How strong has been the effect of the Global Financial Crisis (GFC) on systemic risk in sovereign bond markets? Was the increase in credit spreads relative to triple-A benchmarks which followed the GFC the result of higher sovereign default risk or the result of a re-pricing that reflected...

A crucial issue for financial markets valuation is the interrelationship between the balance sheet figures in stock markets and economic conditions. In this framework empirical research has concentrated on the derivation of the aggregate fair values in stock markets through the examination of...