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We study the role of global media during the Greek debt crisis and relate it to the transmission of events on financial … actors' expectations. To identify news coverage about the Greek debt crisis, we apply topic modeling to a newly compiled … Greek debt crisis topic and relate it to events concerning Greece during this time period. Our finding is that events are …
Persistent link: https://www.econbiz.de/10012263131
Episodes of debt accumulation have been a recurrent feature of the global economy over the past fifty years. Since 2010, emerging and developing economies have experienced another wave of historically large and rapid debt accumulation. Similar past debt buildups have often ended in widespread...
Persistent link: https://www.econbiz.de/10012195063
Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and...
Persistent link: https://www.econbiz.de/10012159605
The 2007-2008 financial crisis and the European sovereign debt crisis effects rippled through the financial system, banks and sovereign states. We analyze these events, focusing on the Portuguese and Spanish case after providing an insight into the Eurozone. We assessed the pricing of sovereign...
Persistent link: https://www.econbiz.de/10012164218
This paper sets the background for the Special Issue of the Journal of Empirical Finance on the European Sovereign Debt Crisis. It identifies the channel through which risks in the financial industry leaked into the public sector. It discusses the role of the bank rescues in igniting the...
Persistent link: https://www.econbiz.de/10011588156
expectations about bank risk-taking and demand a return on deposits according to their risk. This creates strategic …
Persistent link: https://www.econbiz.de/10011959253
expectations about bank risk-taking and demand a return on deposits according to their risk. This creates strategic …
Persistent link: https://www.econbiz.de/10011978544
We study determinants of sovereign portfolios of Spanish banks over a long time-span, starting in 2008. Our findings challenge the view that banks engaged in moral hazard strategies to exploit the regulatory treatment of sovereign exposures. In particular, we show that being a weakly capitalized...
Persistent link: https://www.econbiz.de/10011978836
Persistent link: https://www.econbiz.de/10012501064
Persistent link: https://www.econbiz.de/10012229420