an aggregate risk factor is a main driver of spreads. This factor also plays an important indirect role for risk spreads … through its interaction with the size and structure of national banking sectors. When aggregate risk increases, countries with … that financial markets perceive a larger risk that governments will have to rescue banks, increasing public debt and …

an aggregate risk factor is a main driver of spreads. This factor also plays an important indirect role for risk spreads … through its interaction with the size and structure of national banking sectors. When aggregate risk increases, countries with … that financial markets perceive a larger risk that governments will have to rescue banks, increasing public debt and …

The risk reducing benefits of the sovereign bond-backed security (SBBS) proposal of Brunnermeier et al (2011, 2016 … ante tail risk and that, like the lowest-risk single-named sovereigns, it acts as a hedge against extreme adverse movements … in the yields on more junior tranches. The mezzanine SBBS has tail risk exposure similar to that of Italian and Spanish …

evaluation of the risk associated with the high level of debt has already peaked. …

-479, 2010) argued that the QE measures primarily aim to reduce US interest rate spreads, such as term and risk premiums … policies significantly affect financial conditions in emerging and advanced countries by altering the risk-taking behavior of … investors. This result suggests that the risk-taking channel plays an important role in transmitting the effects of these …