Fiscal austerity has not led to a return of confidence and it is not at all certain that the current crisis strategy can be sustained politically and will eventually succeed. Government bonds of crisis-hit countries have lost their safe asset status and high risk premiums are impairing monetary...

Die Feststellung einer außergewöhnlichen Notsituation für das Saarland für das Haushaltsjahr 2022 ist nachvollziehbar, gerechtfertigt und vernünftig. Der Plan, die staatlichen Kosten eines infolge des Ukraine-Krieges beschleunigten Transformationstempos über ein Sondervermögen zu...

We regress long-term private sector interest rates on a money market rate, a term premium and credit risk. As a contribution to the current debate about European safe assets, our interest is in quantifying domestic spillover effects from euro area sovereign bond spreads. Panel estimates show...