Similar Search Results

Public investment and monetary policy stance in the euro area

Burlon, Lorenzo; Locarno, Alberto; Notarpietro, Alessandro - 2017

Persistent link: https://www.econbiz.de/10011943044

Sovereign credit risk, liquidity, and ECB intervention : deus ex machina?

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide; … - 2015 - First draft: September 2013, This draft: March 2015

This paper examines the dynamic relationship between credit risk and liquidity in the sovereign bond market in the … context of the European Central Bank (ECB) interventions. Using a comprehensive set of liquidity measures obtained from a … risk, as measured by the Italian sovereign credit default swap (CDS) spread, generally drive the liquidity of the market: a …

Persistent link: https://www.econbiz.de/10010503289

Debt maturity and the liquidity of secondary debt markets

Bruche, Max; Segura, Anatoli - 2016

Persistent link: https://www.econbiz.de/10011941207

Austerity, fiscal volatility, and economic growth

Curatola, Giuliano; Donadelli, Michael; Gioffré, Alessandro - 2014

This paper contributes to the ongoing debate on the relationship between austerity measures and economic growth. We propose a general equilibrium model where (i) agents have recursive preferences; (ii ) economic growth is endogenously driven by investments in R&D; (iii) the government is...

Persistent link: https://www.econbiz.de/10010367469

Does austerity pay off?

Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes - 2014

Policy makers often implement austerity measures when the sustainability of public finances is in doubt and, hence, sovereign yield spreads are high. Is austerity successful in bringing about a reduction in yield spreads? We employ a new panel data set which contains sovereign yield spreads for...

Persistent link: https://www.econbiz.de/10010463604

Austerity, fiscal uncertainty, and economic growth : insights from fiscally weak EU countries

Curatola, Giuliano Antonio; Donadelli, Michael; … - 2015

Recent empirical evidence suggests that during the last years fiscally weak European countries significantly cut their R&D budgets in an effort to reduce their deficit, according to the spirit of the Fiscal Compact. We propose a general equilibrium model that endogenously captures the trade-off...

Persistent link: https://www.econbiz.de/10012061561

Bank and sovereign debt risk

Darracq Pariès, Matthieu; Faia, Ester; Rodriguez … - 2012 - This draft: December 2012

long run fragility. We build a macro model with banks subject to incentive problems and liquidity risk (in the form of … liquidity based banks' runs) which provides a link between endogenous bank capital and macro and policy risk. Our banks also … invest in risky government bonds used as capital buffer to self-insure against liquidity risk. The model can replicate the …

Persistent link: https://www.econbiz.de/10010226188

The effects of fiscal shocks with debt-stabilizing budgetary policies in Italy

Caprioli, Francesco; Momigliano, Sandro - 2011

Persistent link: https://www.econbiz.de/10009549763

On deficits and symmetries in a fiscal capacity

Hebous, Shafik; Weichenrieder, Alfons J. - 2015

There is a growing debate about complementing the European Monetary Union by a more comprehensive fiscal union. Against this background, this paper emphasizes that there is a trade-off in designing a system of fiscal transfers ("fiscal capacity") in a union between members of different size. A...

Persistent link: https://www.econbiz.de/10011317727

Trust in government and fiscal adjustments

Bursian, Dirk; Weichenrieder, Alfons J.; Zimmer, Jochen - 2013

The paper looks at the determinants of fiscal adjustments as reflected in the primary surplus of countries. Our conjecture is that governments will usually find it more attractive to pursue fiscal adjustments in a situation of relatively high growth, but based on a simple stylized model of...

Persistent link: https://www.econbiz.de/10010225802