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On creditor seniority and sovereign bond prices in Europe : conference paper
Steinkamp, Sven; Westermann, Frank - 2013
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10010341164
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On creditor seniority and sovereign bond prices in Europe
Steinkamp, Sven; Westermann, Frank - 2012
and in a formal regression analysis. -- Government bond spreads ; Eurozone ; senior tranche lending ; multiple equilibria …
Persistent link: https://www.econbiz.de/10009659917
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On creditor seniority and sovereign bond prices in Europe
Steinkamp, Sven; Westermann, Frank - 2012
graphically and in a formal regression analysis. -- government bond spreads ; Eurozone ; senior tranche lending ; multiple …
Persistent link: https://www.econbiz.de/10009630117
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On Creditor Seniority and Sovereign Bond Prices in Europe
Steinkamp, Sven; Westermann, Frank - CESifo - 2012
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10010877653
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On creditor seniority and sovereign bond prices in Europe
Steinkamp, Sven; Westermann, Frank - 2012
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10010289304
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Multilateral loans and interest rates : further evidence on the seniority conundrum
Steinkamp, Sven; Westermann, Frank - 2016
During Europe's sovereign-debt crisis, interest rate spreads have been highly correlated with the share of multilateral loans that were considered senior to private markets. As both variables are potentially endogenous, we follow two different approaches to analyze the direction of causality....
Persistent link: https://www.econbiz.de/10011568242
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Multilateral loans and interest rates : further evidence on the seniority conundrum
Steinkamp, Sven; Westermann, Frank - 2016
During Europe's sovereign-debt crisis, interest rate spreads have been highly correlated with the share of multilateral loans that were considered senior to private markets. As both variables are potentially endogenous, we follow two different approaches to analyze the direction of causality....
Persistent link: https://www.econbiz.de/10011569629
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On Creditor Seniority and Sovereign Bond Prices in Europe
Steinkamp, Sven; Westermann, Frank - Institut für Empirische Wirtschaftsforschung, … - 2012
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10011182983
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The Seniority Conundrum – Further Evidence
Steinkamp, Sven; Westermann, Frank - In: CESifo Forum 18 (2017) 2, pp. 63-65
Persistent link: https://www.econbiz.de/10011696292
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On Creditor Seniority and Sovereign Bond Prices in Europe
Steinkamp, Sven - 2013
The recent increase of interest rate spreads in Europe and their apparent detachment from underlying fundamental variables has generated a debate on multiple equilibria in the sovereign bond market (see De Grauwe and Ji (2012)). We critically evaluate this hypothesis, by pointing towards an...
Persistent link: https://www.econbiz.de/10013090004