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The Pricing of Sovereign Risk and Contagion During the European Sovereign Debt Crisis

Beirne, John - 2014

The paper analyses the drivers of sovereign risk for 31 advanced and emerging economies during the European sovereign debt crisis. It shows that a deterioration in countries' fundamentals and fundamentals contagion – a sharp rise in the sensitivity of financial markets to fundamentals – are...

Persistent link: https://www.econbiz.de/10013061742

Fiscal Multipliers and Foreign Holdings of Public Debt

Broner, Fernando - 2019

This paper explores a natural connection between fiscal multipliers and foreign holdings of public debt. Although fiscal expansions can raise domestic economic activity through various channels, they can also have crowding-out effects if the resources used to acquire public debt reduce domestic...

Persistent link: https://www.econbiz.de/10012889807

The determinants of ‘domestic’ original sin in emerging market economies

Mehl, Arnaud; Reynaud, Julien - 2005

This paper explains why domestic debt composition in emerging economies is risky. It carries out an analysis of the determinants of ‘domestic’ original sin, which refers to the inability of emerging economies to borrow domestically in local currency, at long maturities and fixed interest...

Persistent link: https://www.econbiz.de/10011604606

Has Emerging Asia Decoupled? An Analysis of Production and Trade Linkages Using the Asian International Input-Output Table

Pula, Gabor - 2009

dependence of emerging Asia on external demand. This paper analyses, using an update of the Asian International Input-Output (AIO … linkages. According to the results, we do not find evidence of the decoupling of emerging Asia from the rest of the world. On … indicates that emerging Asia's dependence on exports is only about one-third of its GDP, i.e. well below the 50% exposure …

Persistent link: https://www.econbiz.de/10012765710

Global Liquidity Glut or Global Savings Glut? A Structural VAR Approach

Bracke, Thierry - 2008

regions with widening imbalances, the United States and emerging Asia, using sign restrictions that are compatible with … imbalances in the US and emerging Asia than a quot;savings glutquot …

Persistent link: https://www.econbiz.de/10012771616

Emerging Asia's Growth and Integration : How Autonomous are Business Cycles?

Rueffer, Rasmus - 2007

Against the background of the rapid integration of emerging Asia into the global economy, this paper investigates the … role of domestic and external factors in driving individual emerging economies in Asia. We estimate VAR models for ten …

Persistent link: https://www.econbiz.de/10012778007

Public Sector Efficiency : Evidence for New EU Member States and Emerging Markets

Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2021

is rather diverse especially as compared to the group of top performing emerging markets in Asia. Econometric analysis …

Persistent link: https://www.econbiz.de/10013318047

A Quantitative Mirror on the Euribor Market Using Implied Probability Density Functions

de Vincent-Humphreys, Rupert - 2011

This paper presents a set of probability density functions for Euribor outturns in three months' time, estimated from the prices of options on Euribor futures. It is the first official and freely available dataset to span the complete history of Euribor futures options, thus comprising over ten...

Persistent link: https://www.econbiz.de/10013132237

Public debt and long-term interest rates: the case of Germany, Italy and the USA

Paesani, Paolo; Strauch, Rolf; Kremer, Manfred - 2006

The debate on the sustainability of public finances is closely related to the analysis of the financial and macroeconomic consequences of government debt accumulation. Focusing on the USA, Germany and Italy over the 1983-2003 period, the central issue addressed in this paper is how the...

Persistent link: https://www.econbiz.de/10011604702

The impact of high and growing government debt on economic growth: an empirical investigation for the euro area

Checherita-Westphal, Cristina; Rother, Philipp - 2010

This paper investigates the average impact of government debt on per-capita GDP growth in twelve euro area countries over a period of about 40 years starting in 1970. It finds a non-linear impact of debt on growth with a turning point—beyond which the government debt-to-GDP ratio has a...

Persistent link: https://www.econbiz.de/10011605283