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Who Saw Sovereign Debt Crises Coming?
Nieto-Parra, Sebastián - In: ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN … (2009)
This paper studies sovereign debt crises during the period 1993-2006 through the prism of the primary sovereign bond market. It finds that one cannot reject the hypothesis that investment banks price sovereign default risk well before crises emerge and well before investors do. Investment banks...
Persistent link: https://www.econbiz.de/10009018086
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Who Saw Sovereign Debt Crises Coming?
Parra, Sebastián Nieto - Centre de développement, Organisation de Coopération … - 2008
This paper studies sovereign debt crises during the period 1993-2006 through the prism of the primary sovereign bond market. Two conclusions emerge. First, investment banks price sovereign default risk well before crises occur and before investors detect default risk. Between three and one years...
Persistent link: https://www.econbiz.de/10004962440
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Structured Eurobonds
Bauer, Christian; Herz, Bernhard; Hild, Alexandra - Fach Volkswirtschaftslehre, Universität Trier - 2011
This paper develops a market-based approach to implement so called Eurobonds, i.e. common sovereign debt securities of … Eurobonds with varying risk and rating (tranching). By pooling and tranching the default risk is concentrated in one part of the … default. By contrast to propositions on Eurobonds made so far, our proposal has one major advantage: All EMU countries can …
Persistent link: https://www.econbiz.de/10010720372
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States, Banks, and the Financing of the Economy: Fiscal Policy and Sovereign Risk Perspectives
Egger, Peter H.; Afonso, Antonio; Jalles, Joao Tovar; … - SUERF - The European Money and Finance Forum
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011070908
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Structured Eurobonds
Bauer, Christian; Herz, Bernhard; Hild, Alexandra - 2011
This paper develops a market-based approach to implement so called Eurobonds, i.e. common sovereign debt securities of … Eurobonds with varying risk and rating (tranching). By pooling and tranching the default risk is concentrated in one part of the … default. By contrast to propositions on Eurobonds made so far, our proposal has one major advantage: All EMU countries can …
Persistent link: https://www.econbiz.de/10010327770
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Europe Needs More than a Capital Markets Union: Focus on the Integration of Euro Area Sovereign Debt Markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012054624
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States, Banks, and the Financing of the Economy: Fiscal Policy and Sovereign Risk Perspectives
Balling, Morten; Egger, Peter; Gnan, Ernest; Weber, Axel A. - 2013
On 5-6 September 2012 SUERF held its 30th Colloquium “States, Banks, and the Financing of the Economy” at the University of Zürich, Switzerland. The papers included in this SUERF Study are based on contributions to the Colloquium. All the chapters in this publication discuss from different...
Persistent link: https://www.econbiz.de/10011689958
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Análisis de la eficiencia en el mercado de eurobonos antes y durante la crisis económica (2004-2012)
Guaita Martínez, José Manuel; Martí Selva, Maria Luisa; … - In: Journal of Innovation & Knowledge (JIK) 1 (2016) 2, pp. 81-90
consisting of 1,999 Eurobonds, the results show that in the years before the crisis starts the efficient issues volume was bigger …
Persistent link: https://www.econbiz.de/10011946708
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THE BASEL COMMITTEE APPROACH TO RISK-WEIGHTS AND EXTERNAL RATINGS: WHAT DO WE LEARN FROM BOND SPREADS?
Resti, Andrea; Sironi, Andrea - Banca d'Italia - 2005
currency of denomination) including 7,232 eurobonds issued mostly by Canadian, European, Japanese and U.S. companies during …
Persistent link: https://www.econbiz.de/10005113515
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Europe needs more than a Capital Markets Union : focus on the integration of euro area sovereign debt markets
Breitenfellner, Andreas; Schuberth, Helene - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 2, pp. 9-20
With a view to establishing a Capital Markets Union (CMU), efforts to integrate (private) capital markets and private risk-sharing in the European Union are underway. However, the single (capital) market will be burdened by a perennial potential threat to sovereign bond market stability in the...
Persistent link: https://www.econbiz.de/10012051172