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Structured Eurobonds
Bauer, Christian; Herz, Bernhard; Hild, Alexandra - 2011
This paper develops a market-based approach to implement so called Eurobonds, i.e. common sovereign debt securities of … Eurobonds with varying risk and rating (tranching). By pooling and tranching the default risk is concentrated in one part of the … default. By contrast to propositions on Eurobonds made so far, our proposal has one major advantage: All EMU countries can …
Persistent link: https://www.econbiz.de/10010327770
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Europe Needs More than a Capital Markets Union: Focus on the Integration of Euro Area Sovereign Debt Markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012054624
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States, Banks, and the Financing of the Economy: Fiscal Policy and Sovereign Risk Perspectives
Balling, Morten; Egger, Peter; Gnan, Ernest; Weber, Axel A. - 2013
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689958
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THE BASEL COMMITTEE APPROACH TO RISK-WEIGHTS AND EXTERNAL RATINGS: WHAT DO WE LEARN FROM BOND SPREADS?
Resti, Andrea; Sironi, Andrea - Banca d'Italia - 2005
currency of denomination) including 7,232 eurobonds issued mostly by Canadian, European, Japanese and U.S. companies during …
Persistent link: https://www.econbiz.de/10005113515
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Europe needs more than a Capital Markets Union : focus on the integration of euro area sovereign debt markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012051172
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States, banks, and the financing of the economy : fiscal policy and sovereign risk perspectives
Balling, Morten (ed., introduction) - Colloquium "States, Banks and the Financing of the …; … - 2013
On 5-6 September 2012 SUERF held its 30th Colloquium "States, Banks, and the Financing of the Economy" at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011711625
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Structured Eurobonds
Bauer, Christian; Herz, Bernhard; Hild, Alexandra - 2011
This paper develops a market-based approach to implement so called Eurobonds, i.e. common sovereign debt securities of … Eurobonds with varying risk and rating (tranching). By pooling and tranching the default risk is concentrated in one part of the … default. By contrast to propositions on Eurobonds made so far, our proposal has one major advantage: All EMU countries can …
Persistent link: https://www.econbiz.de/10010356071
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Who Are The Best? Local Versus Foreign Analysts on the Latin American Stock Markets
Bacmann, Jean-François; Bolliger, Guido - 2003
This paper investigates the relative performance of local and foreign financial analysts on Latin American emerging markets.
Persistent link: https://www.econbiz.de/10005843437
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Who are the Best? Local Versus Foreign Analysts on the Latin American Stock Markets
Bachmann, Jean-François; Bolliger, Guido - Swiss Finance Institute - 2003
This paper investigates the relative performance of local and foreign financial analysts on Latin American emerging markets. There is strong evidence that foreign financial analysts outperform local analysts on these markets. Foreign analysts produce more timely and more accurate forecasts. A...
Persistent link: https://www.econbiz.de/10005827310
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Credit Rating Agencies and Moral Hazard
Božovic, Miloš; Uroševic, Branko; Živkovic, Boško - In: Panoeconomicus 58 (2011) 2, pp. 219-227
The failure of credit rating agencies to properly assess risks of complex financial securities was instrumental in setting off the global financial crisis. This paper studies the incentives of companies and rating agencies and argues that the way the current rating market is organized may...
Persistent link: https://www.econbiz.de/10009141602