between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond …

default probability, showing that it decreases with central bank bond-holdings. Calibrating the model to Germany and Italy, we …

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …

Greek government bond market in mid-2010 and use a unique new dataset to show, for the first time, what type of bonds the … ECB bought. We then explore the short-term effects of ECB purchases at the bond-level. The results show a large impact of … bought. This is consistent with theories of "local supply effects" in segmented or illiquid bond markets. …

ideas: (1) to create multitranche "sovereign bond-backed securities" (SBBS), of which the senior tranche would constitute a … safe asset; (2) to create a senior, publicly owned financial intermediary that would issue a bond backed by a diversified … diversified pool of senior sovereign bonds ("multitranche national bond issuance"). Public attention (including public criticism …

We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We …

variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We … between senior tranche lending including Target2 balances and recent developments in the sovereign bond market, both …

This paper empirically investigates the relationship between TV news coverage and the GIIPS countries' bond yield … news shows of leading TV stations in 12 countries which include 37,859 news on the EU, on the Eurozone and on country …-specific economic issues. We find that an increasing share of news about the Eurozone reduces yield spreads, especially when the news …