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The European Sovereign Debt Crisis and Its Impact on Bond and Stock Markets : Market Considers It a Long Term Crisis

Koch, Sophia - 2013

default of Greece in March 2012. Results are based on an unprecedented large sample of 159 rating events on industrial … national stock indices of Greece, Portugal, Spain, and Slovenia. The partial default of Greece does not create negative …

Persistent link: https://www.econbiz.de/10013075599

Was a Deterioration in ‘Connectedness’ a Leading Indicator of the European Sovereign Debt Crisis?

Hamill, Philip Anthony - 2019

This paper investigates if changes in network connectedness of European sovereign bond markets from 2005 to 2011 was an indicator of the subsequent financial crisis. The unified methodology proposed by Diebold and Yilmaz (2014) is used to overcome weaknesses in alternative methodologies to...

Persistent link: https://www.econbiz.de/10012903344

Greece’s New Agreement With Europe : Is This Time Different?

Kazarian, Paul B. - 2019

In the July-August Intereconomics' editorial note on Greece's accord with the creditors, Sebastian Dullien argues that … also emphasizes the critical issue of debt relief to help Greece to recover this time.In particular, he specifically raises … before the Greek referendum in early July, the Greek public debt is not sustainable. In other words: Greece is insolvent …

Persistent link: https://www.econbiz.de/10012892379

European versus Anglo-Saxon Credit View : Evidence from the Eurozone Sovereign Debt Crisis

Altdörfer, Marc - 2018

We analyze whether different intensities of country ties to Europe affected the assignment of sovereign credit ratings during the Eurozone sovereign crisis. We find that Fitch, the rating agency among the “Big Three” with significantly stronger ties to Europe, was more reluctant than its two...

Persistent link: https://www.econbiz.de/10012935049

Real Effects of the Sovereign Debt Crisis in Europe : Evidence from Syndicated Loans

Acharya, Viral V. - 2018

We explore the impact of the credit crunch that followed the European debt crisis on the corporate policies of European firms. We show that banks' exposures to impaired sovereign debt and the risk-shifting behavior of undercapitalized banks contributed significantly to the severity of the...

Persistent link: https://www.econbiz.de/10012937243

European Sovereign Debt Crisis and its Impact on Financial Markets and Institutions

Ahmad, Afzal - 2017

This paper examines the European sovereign debt crisis that began in 2009; it mostly considers Greece and then Italy …

Persistent link: https://www.econbiz.de/10012971060

The Impact of the Greek Sovereign Debt Crisis on European Banks’ Disclosure and its Economic Consequences

Fiechter, Peter - 2016

Using a sample of European banks, this paper examines the link between disclosure and its economic consequences. We exploit an exogenous cost of capital shock created by the Greek Sovereign Debt Crisis and analyze banks' disclosure responses to this shock. First, we find that European banks...

Persistent link: https://www.econbiz.de/10013007758

Contagion of the Eurozone Debt Crisis

Samarakoon, Lalith P. - 2014

This paper examines the contagion of the eurozone debt crisis to developed and emerging stock markets around the world. Using the VAR methodology, and changes in sovereign bond yields and stock returns of the crisis countries as proxies for the eurozone debt crisis, this paper finds strong and...

Persistent link: https://www.econbiz.de/10013049332

How Party Linkages Shape Austerity Politics : Clientelism and Fiscal Adjustment in Greece and Portugal During the Eurozone Crisis

Afonso, Alexandre - 2014

Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards … depends on their ability to control state budgets to reward clients. In Greece, where parties relied extensively on these …

Persistent link: https://www.econbiz.de/10013049407

European Equity Market Contagion : An Empirical Application to Ireland's Sovereign Debt Crisis

Corbet, Shaen - 2014

This paper examines the time-varying conditional correlations of daily European equity market returns during the Irish sovereign debt crisis. A dynamic conditional correlation (DCC) multivariate GARCH model is used to estimate to what extent the collapse of Irish equity markets and subsequent...

Persistent link: https://www.econbiz.de/10013052375