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This article addresses key issues of the Greek sovereign debt crisis, its broader economic distress and growth …
Persistent link: https://www.econbiz.de/10012940825
We examine the impact of sovereign downgrades on European firms for equity markets and credit default swap (CDS) markets during the period 2009 to 2012. We find evidence of spillover effects, where sovereign downgrades lead to negative abnormal stock returns and positive abnormal CDS spread...
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exchange rates. When applied to the European sovereign debt crisis, both methods suggest that investors' conviction about the …
Persistent link: https://www.econbiz.de/10012868618
This contribution develops a blueprint for a European fiscal union. We argue that a viable European fiscal union can be constructed without joint liability for public debt or a centralized government with a large common budget. Such a fiscal union should combine elements of market discipline...
Persistent link: https://www.econbiz.de/10011576597
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A number of tools have been suggested for solving the European sovereign debt crisis, in particular the options of … effects as well as their potential power to solve the debt crisis. …
Persistent link: https://www.econbiz.de/10009612902
This study provides an empirical analysis of the impact of the Greek debt crisis on stock returns of U.S. commercial … banks. We find that good (bad) news events pertaining to the Greek debt crisis, identified by large changes in the Greek CDS … exposure was such that it did not result in any abnormal fluctuations in bank values at the height of the crisis. When we …
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