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aftermath of the euro zone's sovereign debt crisis about 65% of these shocks were absorbed, therefore reducing consumption … Mechanism (ESM) channelling official loans to distressed euro zone economies. We also show that cross-border holdings of …
Persistent link: https://www.econbiz.de/10012920112
-to-quality effect. Common news about the euro crisis and news about specific countries itself tend to raise the covariance of yields …
Persistent link: https://www.econbiz.de/10013060538
Persistent link: https://www.econbiz.de/10012795420
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Earlier research has shown that euro-area primary public debt markets affect secondary markets. We find that more … successful auctions of euro area public debt, as captured by higher bid-to-cover ratios, lead to lower secondary-market yields …
Persistent link: https://www.econbiz.de/10012956251
Exploring the period since the inception of the euro, we show that secondary-market yields on Italian public debt …
Persistent link: https://www.econbiz.de/10013315717
-to-quality effect. Common news about the euro crisis and news about specific countries itself tend to raise the covariance of yields …
Persistent link: https://www.econbiz.de/10011605674
Persistent link: https://www.econbiz.de/10009751126
The literature on fiscal multipliers finds that spending-based fiscal consolidations tend to have more benign macro-economic consequences than revenue-based consolidations. By directly comparing expost data with consolidation plans, we present evidence of a systematically weaker follow-up of...
Persistent link: https://www.econbiz.de/10013315403