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Persistent link: https://www.econbiz.de/10009424780
. But, after the crisis, Asia’s sovereign spreads normalized, despite the debt crisis in the euro area, reflecting a fall in …
Persistent link: https://www.econbiz.de/10014399311
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10014404003
Persistent link: https://www.econbiz.de/10011374746
Are Bunds special? This paper estimates the 'Bund premium' as the difference in convenience yields between other sovereign safe assets and German government bonds adjusted for sovereign credit risk, liquidity and swap market frictions. A higher premium suggests less substitutability of sovereign...
Persistent link: https://www.econbiz.de/10012154614
of financial integration or interrelatedness, asking how Asia compares with Europe and Latin America and with the base … more financially integrated than other regions. Asia, more interestingly, already seems to have made more progress on this … sample suggest that one factor holding back investment in foreign bonds in East Asia may be limited geographical …
Persistent link: https://www.econbiz.de/10014400278
with the United States, the United Kingdom and Singapore by examining the three commonly used macroeconomic relationships …
Persistent link: https://www.econbiz.de/10011716450
Singapore also were important spillover sources within the Asian region and affected United States to a lesser degree during the …
Persistent link: https://www.econbiz.de/10014399563
Persistent link: https://www.econbiz.de/10011374765
Sovereign debt restructurings are perceived as inflicting large losses to bondholders. However, many bonds feature high coupons and often exhibit strong post-crisis recoveries. To account for these aspects, we analyze the long-term returns of sovereign bonds during 32 crises since 1998, taking...
Persistent link: https://www.econbiz.de/10012102075