Bayer, Christian; Kim, Chi Hyun; Kriwoluzky, Alexander - 2018
-2% for Germany. The ECB's interventions designed to reduce the risk of a breakup successfully did so for Italy, but …This paper assesses redenomination risk in the euro area. We first estimate daily default-risk-free yield curves for … redenomination risk from the yield spreads between these two types of bonds. Redenomination risk primarily shows up at the short end …