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The Risk of the Sovereign Debt Default : The Eurozone Crisis 2008-2013
Stamatopoulos, Theodoros V. - 2016
We investigate the relationship of the market pricing of sovereign risk to default, through CDS spreads for 16 Eurozone countries during 2008q1-2013q3. We take into account, through appropriate non-linear GMM estimations the endogeneity problem. We focus on “fiscal space” (DEBT or FISCAL),...
Persistent link: https://www.econbiz.de/10012976894
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Foreign Direct Investment, Sovereign Debt and Growth : Evidence for the Euro Area
Tan, Ai-Lian - 2017
In light of the global financial crisis, an extensive implementation of fiscal stimulus packages has triggered an enormous soared of public debt in Europe. While grappling with this albatross, the high debt level has aroused the paramount interest of this study casts doubt on the role of...
Persistent link: https://www.econbiz.de/10012971348
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Domestic banks as lightning rods? : home bias and information during the Eurozone Crisis
Saka, Orkun - 2019 - This Draft: September, 2019
European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I...
Persistent link: https://www.econbiz.de/10012123037
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Domestic Banks as Lightning Rods? Home Bias and Information During the Eurozone Crisis
Saka, Orkun - 2019
European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I...
Persistent link: https://www.econbiz.de/10012859050
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Domestic Banks as Lightning Rods? Home Bias and Information During Eurozone Crisis
Saka, Orkun - 2019
European banks have been criticized for holding excessive domestic government debt during economic downturns, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I first...
Persistent link: https://www.econbiz.de/10012893375
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Domestic Banks as Lightning Rods? Home Bias During the Eurozone Crisis
Saka, Orkun - 2018
European banks have been criticized for holding excessive domestic government debt during economic downturns, which has been interpreted as indicative evidence of moral suasion. By using a novel bank-level dataset covering the entire timeline of the eurozone crisis, I first re-confirm that the...
Persistent link: https://www.econbiz.de/10012917891
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Domestic Banks as Lightning Rods? Home Bias During the Eurozone Crisis
Saka, Orkun - 2017
Governments and domestic banks in Europe have attracted criticism due to the heightening inclination of banks to hold more local sovereign debt in the midst of the crisis. This has traditionally been interpreted as an evidence of financial repression or moral suasion. By using a novel dataset on...
Persistent link: https://www.econbiz.de/10012962855
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Domestic Banks as Lightning Rods? Home Bias and Information during Eurozone Crisis
Saka, Orkun - 2018
European banks have been criticized for holding excessive domestic government debt during economic downturns, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level dataset covering the entire timeline of the Eurozone crisis, I first...
Persistent link: https://www.econbiz.de/10012935285
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Cross-Border Investment and the Decline of Exchange Rate Volatility : Implications for Euro Area Bilateral Investments
Giofré, Maela; Sokolenko, Oleksandra - 2021
The exchange rate volatility has witnessed a secular decline after the Bretton Woods collapse. We explore the …. We find indeed that the negative association between bilateral foreign portfolio investments and the volatility of the … volatility in the after-crisis period, the fall in bilateral equity investment in the Euro area disappears …
Persistent link: https://www.econbiz.de/10013229732
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Domestic cycles, financial cycles, and policies : what has gone wrong?
Dăianu, Daniel - 2017
The financial crisis and its ensuing effects have brought back into the limelight the issue of cycles and of policies which fuel or mitigate crises. Cognitive and operational models in economics and business are questioned. There is a specter of much lower economic growth in the industrialized...
Persistent link: https://www.econbiz.de/10011760593