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Is the pricing of sovereign risk linear during bearish episodes? Or can initial shocks on economic fundamentals be exacerbated by endogenous factors that create nonlinearities? We test for nonlinearities in the sovereign bond market of European peripheral countries during the debt crisis and...
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, Ireland, Netherlands, Norway, Spain, Sweden, Switzerland, UK; 3) a neutral role - Denmark and Italy; and 4) a negative impact … - the case of Portugal; 2) a positive but stable role of education in terms of inequality - Austria, Finland, France … - Germany and Greece. We thus find that in most countries dispersion in earnings increases with educational levels and that …
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, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999-2016, i.e., the EMU period. The main … outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece …
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