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Climate Change Transition Risk on Sovereign Bond Markets

Collender, Sierra; Sklibosios Nikitopoulos, Christina; … - 2021

We challenge the narrative that climate change transition risk is not being priced into sovereign bond markets. Climate …, are factored into sovereign bond yields (and spreads) by investors. Using a sample of data from 23 advanced and 16 … in the significance of transition risk factors as determinants of sovereign bond yields …

Persistent link: https://www.econbiz.de/10013224528

Sovereign Default, Domestic Banks, and Financial Institutions

Gennaioli, Nicola - 2013

We present a model of sovereign debt in which, contrary to conventional wisdom, government defaults are costly because they destroy the balance sheets of domestic banks. In our model, better financial institutions allow banks to be more leveraged, thereby making them more vulnerable to sovereign...

Persistent link: https://www.econbiz.de/10013091362

The Home Bias in Sovereign Ratings

Fuchs, Andreas - 2013

Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political...

Persistent link: https://www.econbiz.de/10013071483

The home bias in sovereign ratings

Fuchs, Andreas; Gehring, Kai - 2013 - This version: 20 December 2013

Persistent link: https://www.econbiz.de/10010234188

The home bias in sovereign ratings : conference paper

Fuchs, Andreas; Gehring, Kai - Evidenzbasierte Wirtschaftspolitik <Veranstaltung> <2014> - 2013 - This version: 20 December 2013

Persistent link: https://www.econbiz.de/10010480669

The home bias in sovereign ratings

Fuchs, Andreas; Gehring, Kai - 2015 - This version: May 2015

Credit rating agencies are frequently criticized for producing biased sovereign ratings. This article discusses how the home country of rating agencies could affect rating decisions as a result of political economy influences and cultural distance. Using data from nine agencies based in six...

Persistent link: https://www.econbiz.de/10011284918

Addressing the safety trilemma : a safe sovereign asset for the eurozone

Riet, Ad van - 2017

tranches of each national government bond in a proportion such that the expected safety of the senior tranche is the same …

Persistent link: https://www.econbiz.de/10011975765

The Home Bias in Sovereign Ratings

Fuchs, Andreas - 2015

Persistent link: https://www.econbiz.de/10013020102

Sovereign Tail Risk

López-Espinosa, Germán - 2014

We provide a new measure of sovereign country risk exposure to global sovereign tail risk (SCRE) based on information incorporated in 5-year sovereign CDS spreads. Our panel regressions with quarterly data from 53 countries show that macro risks have strong explanatory power for SCRE. After...

Persistent link: https://www.econbiz.de/10013050575

Sovereign Debt : Now What?

Gelpern, Anna - 2016

The sovereign debt restructuring regime looks like it is coming apart. Changing patterns of capital flows, old creditors' weakening commitment to past practices, and other stakeholders' inability to take over, or coalesce behind a viable alternative, have challenged the regime from the moment it...

Persistent link: https://www.econbiz.de/10012985499