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Abstract: The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is...
Persistent link: https://www.econbiz.de/10011199228
market wide volatility.Although unconditional analysis over the full sample suggests that country-based or industry-based EMU … spanning tests and style analysis.In the preconvergence period, equity returns in the EMU-zone clearly had a country structure …
Persistent link: https://www.econbiz.de/10011090511
Persistent link: https://www.econbiz.de/10011091969