effects of bankruptcy announcements on creditors using a unique database. On average, creditors experience severe negative … abnormal equity returns and increases in CDS spreads. In addition, creditors are more likely to suffer from financial distress … later. These effects are stronger for industrial creditors than financials. Simulations calibrated to these results indicate …

surpluses. In the data, adjustments to convenience yields explain a larger fraction of the variation in Eurozone bond yields …-section and in the time series. These findings imply large fiscal costs especially on the peripheral countries. If all Eurozone … billion euros in cumulative revenues from bond issuance between 2003 and 2020, representing 2.6% of 2020 Eurozone GDP …

news shows of leading TV stations in 12 countries which include 37,859 news on the EU, on the Eurozone and on country …-specific economic issues. We find that an increasing share of news about the Eurozone reduces yield spreads, especially when the news …

This paper is about market liquidity risk premia in Eurozone sovereign bond spreads between 2008 and 2015. By …