suggest that the cost of credit-default-swap (CDS) contracts to the buyer (as measured by CDS spreads) may be higher than …

This paper introduces fiscal policy in a model of sovereign risk spreads ("spreads"). Using panel data from emerging … market countries, we find that reductions in public expenditure are a more powerful tool for reducing spreads than increases … in revenues. Specifically, cuts in current spending lower spreads by more than cuts in investment spending, and they also …

This paper examines how emerging bond markets react to macroeconomic announcements. Global bond spreads respond to …

A structural vector autoregression model is developed to analyze the dynamics of bond spreads among a sample of mature … contribution on bond spreads from global market conditions (including funding liquidity, market liquidity, as well as credit and … changes in bond spreads over the sample, global market risk factors are fundamental driving forces during periods of stress …