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Escape routes from sovereign default risk in the euro area
Semmler, Willi; Proaño Acosta, Christian - 2015
The recent financial and sovereign debt crises around the world have sparked a growing literature on models and …
Persistent link: https://www.econbiz.de/10010498572
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The zero risk fallacy? : banks' sovereign exposure and sovereign risk spillovers
Kirschenmann, Karolin; Korte, Josef; Steffen, Sascha - 2017
European banks are exposed to a substantial amount of risky sovereign debt. The "missing bank capital" resulting from …-weights. More bank capital as well as positive risk-weighting for sovereign exposures mitigates spillovers. …
Persistent link: https://www.econbiz.de/10011764975
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Sovereign risk premia : the link between fiscal rules and stability culture
Heinemann, Friedrich; Osterloh, Steffen; Kalb, Alexander - 2013 - This version: March 2013
There is a growing empirical literature studying whether fiscal rules reduce borrowing costs. Nevertheless, it remains an open question whether these rules are effective genuinely or just because they mirror fiscal preferences of politicians and voters. In our analysis of European bond spreads,...
Persistent link: https://www.econbiz.de/10009721879
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A viable insolvency procedure for sovereigns (VIPS) in the euro area
Fuest, Clemens; Heinemann, Friedrich; Schröder, Christoph - 2014
A mechanism to restructure the debt of an insolvent euro country is a missing element in the emerging institutional architecture of the euro area. The introduction of an insolvency procedure for sovereigns faces a dilemma: In the foreseeable future, its introduction would risk pushing Europe...
Persistent link: https://www.econbiz.de/10010394484
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GPD-linked bonds as a financing tool for developing countries and emerging markets
Schröder, Michael; Heinemann, Friedrich; Kruse, Susanne; … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002240663
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Climate policy induced investments in developing countries : the implications of investment risks
Böhringer, Christoph; Löschel, Andreas - 2002
and the developing world through joint implementation of emission abatement promises substantial economic gains to both …
Persistent link: https://www.econbiz.de/10011447781
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Bank owners or bank managers : who is keen on risk? ; evidence from the financial crisis
Gropp, Reint; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the … manager-controlled banks. The results are robust to controlling for a wide variety of bank specific, country specific …, regulatory and legal variables. Regulation does not seem to mitigate risk taking by bank owners. We find no evidence that profit …
Persistent link: https://www.econbiz.de/10003941710
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The threat of systemic risk in banking : evidence for Europe
Schüler, Martin (contributor) - 2002
Persistent link: https://www.econbiz.de/10001701678
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Sovereign bond market reactions to fiscal rules and no-bailout clauses : the Swiss experience
Feld, Lars P.; Kalb, Alexander; Moessinger, Marc-Daniel; … - 2013
We investigate the political determinants of risk premiums which sub-national governments in Switzerland have to pay for their sovereign bond emissions. For this purpose we analyse financial market data from 288 tradable cantonal bonds in the period from 1981 to 2007. Our main focus is on two...
Persistent link: https://www.econbiz.de/10009746353
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Gap-filling government debt maturity choice
Eidam, Frederik - 2018
Do governments strategically choose debt maturity to fill supply gaps across maturities? Building on a new panel data set of more than 9,000 individual Eurozone government debt issues between 1999 and 2015, I find that governments increase long-term debt issues following periods of low aggregate...
Persistent link: https://www.econbiz.de/10011844748