Aßmann, Christian; Boysen-Hogrefe, Jens - In: Empirica 39 (2012) 3, pp. 341-356
Government bond spreads increased rapidly during the financial turmoil in the euro area. In general, government bond … spreads in the euro area are attributed to solvency and liquidity risks and determinants thereof. This paper proposes the use … expected debt-to-GDP ratio explains a major part of the differences in bond yields in the euro area between 2003 and the …