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Contagion in the European Sovereign Debt Crisis

Glover, Brent - 2014

We use a network model of credit risk to measure market expectations of the potential spillovers from a sovereign default. Specifically, we develop an empirical model, based on the recent theoretical literature on contagion in financial networks, and estimate it with data on sovereign credit...

Persistent link: https://www.econbiz.de/10013045650

Covid-19 and SME Failures

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021

We estimate the impact of COVID-19 on business failures for small and medium sized enterprises (SMEs) using firm-level data in seventeen countries. Absent government support, the failure rate of SMEs would have increased by 9.1 percentage points, representing 4.6 percent of private sector...

Persistent link: https://www.econbiz.de/10013244116

Nonlinearities in Sovereign Risk Pricing : The Role of CDS Index Contracts

Delatte, Anne-Laure - 2014

Is the pricing of sovereign risk linear during bearish episodes? Or can initial shocks on economic fundamentals be exacerbated by endogenous factors that create nonlinearities? We test for nonlinearities in the sovereign bond market of European peripheral countries during the debt crisis and...

Persistent link: https://www.econbiz.de/10013056598

Peer Effects in European Primary Schools : Evidence from Pirls

Ammermueller, Andreas; Pischke, Jörn-Steffen - 2021

We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...

Persistent link: https://www.econbiz.de/10013233466

Gender Differences in Covid-19 Related Attitudes and Behavior : Evidence from a Panel Survey in Eight OECD Countries

Galasso, Vincenzo - 2020

Using original data from two waves of a survey conducted in March and April 2020 in eight OECD countries (N = 21,649), we show that women are more likely to see COVID-19 as a very serious health problem, to agree with restraining public policy measures adopted in response to it, and to comply...

Persistent link: https://www.econbiz.de/10012831280

Political Credit Cycles : The Case of the Euro Zone

Fernández-Villaverde, Jesús - 2013

process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform …

Persistent link: https://www.econbiz.de/10013084731

Tales from the Bretton Woods

Bordo, Michael D. - 2014

(analogous to Germany today).However Bretton Woods is very different from the Eurozone in many dimensions. An even better analogy …An analogy has been made between the collapse of the Bretton Woods system in 1971 and the recent Eurozone crisis. The … liabilities) and Germany (a surplus country) with large claims is seen as similar to the rising and persistent balance of payments …

Persistent link: https://www.econbiz.de/10013051313

Mpc Heterogeneity in Europe : Sources and Policy Implications

Ampudia, Miguel - 2018

stock returns. Monetary policy has a larger impact on consumption in Italy and Spain compared to France and Germany …

Persistent link: https://www.econbiz.de/10012910644

Political Risk Versus Market Risk in Social Security

Shoven, John B. - 2010

Pay-as-you-go Social Security is typically characterized as a universal defined benefit pension program. Implicit in this characterization is a sense that the participant%u2019s investment in future benefits is somehow guaranteed, or safe from risk. This study develops the concept of...

Persistent link: https://www.econbiz.de/10012761674

Central Bank Credibility, Reputation and Inflation Targeting in Historical Perspective

Bordo, Michael D. - 2014

This paper examines the historical evolution of central bank credibility using both historical narrative and empirics for a group of 16 countries, both advanced and emerging. It shows how the evolution of credibility has gone through a pendulum where credibility was high under the classical gold...

Persistent link: https://www.econbiz.de/10013043621

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