Arghyrou, Michael G.; Kontonikas, Alexandros - Directorate-General Economic and Financial Affairs, … - 2011
We offer a detailed empirical investigation of the European sovereign debt crisis based on the theoretical model by Arghyrou and Tsoukalas (2010). We find evidence of a marked shift in market pricing behaviour from a ‘convergence-trade’ model before August 2007 to one driven by...