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Making the Eurozone work : a risk-sharing reform of the European Stability Mechanism

Dosi, Giovanni; Minenna, Marcello; Roventini, Andrea; … - 2018

This work presents an original proposal for the reform of the Eurozone architecture according to an approach based on … new ESM would support the full transition from national debts to a single Eurozone public debt (e.g. Eurobonds) with a …

Persistent link: https://www.econbiz.de/10011873820

ESBies : Safety in the Tranches

Brunnermeier, Markus K. - 2016

The euro crisis was fueled by the diabolic loop between sovereign risk and bank risk, coupled with cross-border flight-to-safety capital flows. European Safe Bonds (ESBies), a union-wide safe asset without joint liability, would help to resolve these problems. We make three contributions. First,...

Persistent link: https://www.econbiz.de/10012982881

Eurozone Sovereign Contagion : Evidence from the CDS Market (2005–2010)

Kalbaska, Alesia - 2017

the Eurozone. The adjusted correlation analysis confirms that Greece and other PIIGS (even Spain and Italy) have lower …

Persistent link: https://www.econbiz.de/10012965163

Indexed Bonds as an Aid to Monetary Policy

Hetzel, Robert L. - 2012

A measure of the public's expectation of inflation would assist the Fed in formulating monetary policy. In order to create such a measure, the U.S. Treasury could issue its debt in two forms: standard debt and debt indexed for inflation. The difference in yield on these two forms of debt would...

Persistent link: https://www.econbiz.de/10013102547

Indonesia : selected issues

Internationaler Währungsfonds - 2021

Persistent link: https://www.econbiz.de/10012516490

Inflation-linked bonds, nominal bonds, and countercyclical monetary polices

Westerhout, Ed W. M. T. - 2021

Persistent link: https://www.econbiz.de/10012404622

The Rationale and Design of Inflation-Indexed Bonds

Price, Robert T. - 1997

A number of industrialized countries have recently offered inflation-indexed bonds. Some members of another group of countries that had earlier adopted more comprehensive indexation in response to high inflation have taken steps to reduce the scope of indexation in their economies. This paper...

Persistent link: https://www.econbiz.de/10014403310

Fiscal Policy Announcements of Italian Governments and Spread Reaction during the Sovereign Debt Crisis

Falagiarda, Matteo - 2014

-term sovereign bond spread of Italy relative to Germany. After collecting data on relevant fiscal policy announcements, we perform an …

Persistent link: https://www.econbiz.de/10013047985

Central bank-driven mispricing

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide; … - 2018 - This version: October 2018

We show that bond purchases undertaken in the context of quantitative easing efforts by the European Central Bank …. On top of the direct effect the buying pressure exerted on bond prices, we show three indirect channels through which the …: the deterioration of bond market liquidity, the increased bond specialness on the repurchase agreement market, and the …

Persistent link: https://www.econbiz.de/10012062155

Central bank-driven mispricing

Pelizzon, Loriana; Subrahmanyam, Marti G.; Tomio, Davide; … - 2018 - This version: August 2018

We show that bond purchases undertaken in the context of quantitative easing efforts by the European Central Bank …. On top of the direct effect the buying pressure exerted on bond prices, we show three indirect effects through which the …: the deterioration of bond market liquidity, the increased bond specialness on the repurchase agreement market, and the …

Persistent link: https://www.econbiz.de/10011892699