This paper provides a study of bond yield differentials among EU eurobonds issued between 1991 and 2002. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premia which increase with the debt, deficit and debt-service ratio and depend positively on...

This paper provides a study of bond yield differentials among EU government bonds issued between 1993 and 2005 on the basis of a unique dataset of issue spreads in the US and DM (Euro) bond market. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk...

This paper provides a study of bond yield differentials among EU eurobonds issued between 1991 and 2002. Interest differentials between bonds issued by EU countries and Germany or the USA contain risk premia which increase with the debt, deficit and debt-service ratio and depend positively on...

It seems clear that the ECB will raise interest rates in July 2022 and end its asset purchase program. This should send a strong and important signal to markets and economic players that the ECB continues to take its mandate for price stability seriously. However, it cannot be said with absolute...

The use of futures instead of forwards exchange contracts completes the ma-turity spectrum of the correlation between spot yields and the premium. Wefind that the forward premium puzzle appears to be a precrisis phenomenonand is only observed for maturities longer than about 1 month....

Since the beginning of 2022, monetary policy in the euro area has been gradually normalizing. As a result, bond yields of highly indebted countries such as Italy and Greece are rising more sharply than those of countries with less debt, such as Germany, a development referred to as bond market...

Seit Anfang 2022 normalisiert sich die Geldpolitik im Euroraum schrittweise. Infolgedessen steigen die Anleiherenditen hoch verschuldeter Länder wie Italien und Griechenland stärker als die von Ländern mit niedrigerer Verschuldung, wie beispielsweise Deutschland - eine Entwicklung, die als...

In August 2022, the US Congress passed the Inflation Reduction Act (IRA), a comprehensive piece of legislation aiming to stimulate the US economy and to increase its resilience. At an estimated 430 billion euros, it is a massive government investment and spending program in the welfare state,...

Im August 2022 hat der US- Kongress ein umfangreiches Bundesgesetz, den Inflation Reduction Act (IRA), verabschie- det, das der US-Wirtschaft zu mehr Wachstum und Resilienz verhelfen soll. Es ist ein massives staatliches Investitions- und Ausgabenprogramm in den Sozialstaat, in die bundesweite...