Narrow search
Showing 21 - 30 of 713,010
Cover Image
Collateral, liquidity and debt sustainability : conference paper
Niemann, Stefan; Pichler, Paul - 2014
We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents to smooth consumption over time and because they...
Persistent link: https://www.econbiz.de/10010491142
Cover Image
The power of opinion : more evidence of a GIPS-markup in sovereign ratings during the euro crisis
Nauhaus, Steffen - 2015
’s effect on yield spreads shows that this markup had significant effects on financial markets, leading to risk premiums for …
Persistent link: https://www.econbiz.de/10011317827
Cover Image
ECB interventions in distressed sovereign debt markets : the case of Greek bonds
Trebesch, Christoph; Zettelmeyer, Jeromin - 2014
This paper analyses the determinants and effects of ECB interventions in times of severe distress. We focus on the Greek government bond market in mid-2010 and use a unique new dataset to show, for the first time, what type of bonds the ECB bought. We then explore the short-term effects of ECB...
Persistent link: https://www.econbiz.de/10010337515
Cover Image
ECB Interventions in Distressed Sovereign Debt Markets : The Case of Greek Bonds
Trebesch, Christoph - 2014
This paper analyses the determinants and effects of ECB interventions in times of severe distress. We focus on the Greek government bond market in mid-2010 and use a unique new dataset to show, for the first time, what type of bonds the ECB bought. We then explore the short-term effects of ECB...
Persistent link: https://www.econbiz.de/10013065438
Cover Image
ECB Interventions in Distressed Sovereign Debt Markets : The Case of Greek Bonds
Trebesch, Christoph - 2018
We study central bank interventions in times of severe distress (mid-2010), using a unique bond-level dataset of ECB purchases of Greek sovereign debt. ECB bond buying had a large impact on the price of short and medium maturity bonds, resulting in a remarkable “twist” of the Greek yield...
Persistent link: https://www.econbiz.de/10012938010
Cover Image
On the Design of Sovereign Bond-Backed Securities
Barucci, Emilio - 2019
their risk. We show that as the correlation level among defaults increases, the yield rate of senior tranches increases … distribution and the Value at Risk (VaR) associated with the market risk of detaining the different tranches of the bond. We also … the safety of senior tranches but the risk of the junior ones …
Persistent link: https://www.econbiz.de/10012858438
Cover Image
Sovereign Defaults, External Debt and Real Exchange Rate Dynamics
Asonuma, Tamon - 2014
incorporates bond issuances in local and foreign currencies, and endogenous determination of real exchange rate and default risk …
Persistent link: https://www.econbiz.de/10013056392
Cover Image
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
Cover Image
ECB Interventions in Distressed Sovereign Debt Markets : The Case of Greek Bonds
Trebesch, Christoph - 2018
We study central bank interventions in times of severe distress (mid-2010), using a unique bond-level dataset of ECB purchases of Greek sovereign debt. ECB bond buying had a large impact on the price of short and medium maturity bonds, resulting in a remarkable "twist" of the Greek yield curve....
Persistent link: https://www.econbiz.de/10012929524
Cover Image
Sudden stops, sovereign risk, and fiscal rules
Gómez González, José Eduardo; Valencia, Oscar M.; … - 2021
This paper studies the effect of implementing fiscal rules on sovereign default risk and on the probability of large … that fiscal rules are beneficial for macroeconomic stability, as they significantly reduce both sovereign risk perception …
Persistent link: https://www.econbiz.de/10012586437