We estimate the pricing of sovereign risk for a large number of countries within and outside of Europe, before and … zone countries, and the PIIGS in particular, as elsewhere in the world. We validate that fiscal space has been an important … determinant of market-based sovereign risk, and find evidence of mispricing in PIIGS given current fiscal space and other current …

We estimate the pricing of sovereign risk for sixty countries based on fiscal space (debt/tax; deficits/tax) and other … and economically important determinants of market-based sovereign risk. Although the explanatory power of fiscal space … emergence of TED spread as a key pricing factor. However, risk-pricing of the South-West Eurozone Periphery countries is not …

importance of economic fundamentals in the pricing of sovereign risk varies over time. The key factors are trade openness and … in pricing sovereign risk prior to the crisis, but internal factors associated with the capacity to adjust to adverse …