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Euro area sovereign debt crisis and debt mutualisation
Afonso, António; Alcântara, Marcelo - 2016
Persistent link: https://www.econbiz.de/10011549292
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Fiscal sustainability, fiscal reactions, pitfalls and determinants
Afonso, António; Coelho, José Carlos - 2022
We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We …-varying coefficients, we find that fiscal sustainability increases with growth, fiscal balances and fiscal rules indices, and decreases …
Persistent link: https://www.econbiz.de/10013162289
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Euro area time varying fiscal sustainability
Afonso, António; Jalles, João Tovar - 2015
Persistent link: https://www.econbiz.de/10011549837
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Euro area time-varying fiscal sustainability
Afonso, António; Jalles, João Tovar - In: International journal of finance & economics : IJFE 22 (2017) 3, pp. 244-254
Persistent link: https://www.econbiz.de/10011960312
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"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects
Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - 2017
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. Our results provide evidence of a new bond-pricing regime following the announcement of the Outright...
Persistent link: https://www.econbiz.de/10011735972
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"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects
Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - 2017
This paper investigates the role of unconventional monetary policy as a source of time-variation in the relationship between sovereign bond yield spreads and their fundamental determinants. We use a two-step empirical approach. First, we apply a time-varying parameter panel modelling framework...
Persistent link: https://www.econbiz.de/10011759005
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To consolidate or not to consolidate? : a multi-step analysis to assess needed fiscal sustainability
Afonso, António; Alves, José; Jalles, João Tovar - 2022
specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10012938962
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Public finances solvency in the Euro Area : true or false?
Afonso, António; Coelho, José Carlos - 2022
method, we find that (v) fiscal sustainability coefficients are higher the higher the lagged public debt ratios, fiscal rule …
Persistent link: https://www.econbiz.de/10013365375
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"Whatever it takes" to resolve the European sovereign debt crisis? : bond pricing regime switches and monetary policy effects
Afonso, António; Arghyrou, Michael Georgiou; Gadea, … - In: Journal of international money and finance 86 (2018), pp. 1-30
Persistent link: https://www.econbiz.de/10012000463
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Euro Area Sovereign Debt Crisis and Debt Mutualisation
Afonso, António - 2016
We study debt mutualisation in the Euro area. Bearing in mind other existing proposals we provide an alternative Blue, Yellow and Red Bonds proposal: blue, would cover debt up to 60% of GDP, yellow would include debt from 60% up to 90% of GDP, and red would cover debt above 90% of GDP. Although...
Persistent link: https://www.econbiz.de/10012999299