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International transmission of interest rates : the role of international reserves and sovereign debt
Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021
We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...
Persistent link: https://www.econbiz.de/10012504452
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Sovereign debt crisis in Portugal and Spain
Afonso, António; Verdial, Nuno - 2020
into the Eurozone. We assessed the pricing of sovereign risk by performing an OLS/2SLS fixed effects panel analysis on a … pool of Eurozone countries and a SUR regression with Portugal and Spain covering the period 1999:11 until 2019:6. Our …. Specifically, market pricing of the Eurozone credit risk, liquidity risk and the risk appetite increased after the crisis and it …
Persistent link: https://www.econbiz.de/10012164218