Narrow search
Showing 1 - 10 of 13,190
Cover Image
Causes of the outbreak of the Eurozone crisis : the role of the USA and the European Central Bank monetary policy
Białek, Natalia - In: E-Finanse : finansowy kwartalnik internetowy 11 (2015) 2, pp. 47-63
This paper argues that the loose monetary policy of two of the world’s most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 -...
Persistent link: https://www.econbiz.de/10011402491
Cover Image
"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
Cover Image
"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
Cover Image
International financial integration, crises, and monetary policy : evidence from the Euro area interbank crises international financial integration, crises, and monetary policy : e...
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2017 - This version: July, 2017
We analyze how financial crises affect international financial integration, exploiting euro area proprietary interbank data, crisis and monetary policy shocks, and variation in loan terms to the same borrower on the same day by domestic versus foreign lenders. Crisis shocks reduce the supply of...
Persistent link: https://www.econbiz.de/10011704823
Cover Image
International Financial Integration, Crises, and Monetary Policy : Evidence from the Euro Area Interbank Crises
Abbassi, Puriya - 2017
We analyze how financial crises affect international financial integration, exploiting euro area proprietary interbank data, crisis and monetary policy shocks, and variation in loan terms to the same borrower on the same day by domestic versus foreign lenders. Crisis shocks reduce the supply of...
Persistent link: https://www.econbiz.de/10012948677
Cover Image
The EMU sovereign-debt crisis : fundamentals, expectations and contagion
Arghyrou, Michael Georgiou; Kontonikas, Alexandros - 2010
We offer a detailed empirical investigation of the European sovereign debt crisis based on the theoretical model by Arghyrou and Tsoukalas (2010). We find evidence of a marked shift in market pricing behaviour from a 'convergence-trade' model before August 2007 to one driven by...
Persistent link: https://www.econbiz.de/10008664984
Cover Image
The option of last resort : a two-currency EMU
Arghyrou, Michael Georgiou; Tsoukalas, John D. - 2010
This article, originally published at www.roubini.com on 7 February 2010, spells out our two-currency EMU proposal as a plan of last resort for resolving the present EMU sovereign-debt crisis. The key ingredients of our proposal involve a temporary split of the euro into two currencies, both run...
Persistent link: https://www.econbiz.de/10008758509
Cover Image
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 … discrimination between South and West Euro Area Periphery (SWEAP) and the core Eurozone, highlighting asymmetries discovered either … words, the “fragility hypothesis of the Eurozone” …
Persistent link: https://www.econbiz.de/10012976894
Cover Image
Contagion of the Eurozone Debt Crisis
Samarakoon, Lalith P. - 2014
This paper examines the contagion of the eurozone debt crisis to developed and emerging stock markets around the world … eurozone debt crisis, this paper finds strong and pervasive evidence of negative contagion from the crisis countries to other … crisis. The Asian markets do not show pervasive evidence of contagion from the eurozone crisis …
Persistent link: https://www.econbiz.de/10013049332
Cover Image
Sovereign and Bank Contagion in the Eurozone : A Multi-Scale Approach using Wavelet-Network Analysis
Bales, Stephan - 2022
This study establishes time-frequency networks of sovereign and bank contagion in the eurozone over the period 2009 …
Persistent link: https://www.econbiz.de/10013292566