Chudik, Alexander; Fratzscher, Marcel - European Central Bank - 2012
crisis and the 2010-11 sovereign debt crisis. Unlike in the former crisis, emerging market economies have become much more … strong during the 2010-11 sovereign debt crisis, with risk shocks driving down bond yields in key advanced economies. The … methodology, the findings reveal fundamental differences in the transmission strength and pattern between the 2007-08 financial …