Government debt issuance in the Euro area : the impact of the financial crisis /

This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone countries and Denmark. Using a newly constructed database on primary market debt issuance during 2007-09, we find evidence of a shift away from pre-crisis standards of best funding prac...

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Bibliographic Details
Call Number:Libro Electrónico
Main Authors: Broeck, Mark de (Author), Guscina, Anastasia (Author)
Format: Electronic eBook
Language:Inglés
Published: [Washington, D.C.] : International Monetary Fund, [2011], ©2010.
Series:IMF working paper ; WP/11/21.
Subjects:
2008-2009
State bonds > European Union countries.
Debts, Public > European Union countries.
Global Financial Crisis, 2008-2009.
Eurozone.
Obligations d'États fédérés > Pays de l'Union européenne.
Dettes publiques > Pays de l'Union européenne.
Crise financière mondiale, 2008-2009.
Zone euro.
Debts, Public
Eurozone
State bonds
European Union countries
Online Access:Texto completo
Table of Contents:
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Database and Stylized Facts; A. Database; B. Stylized Facts; 1. Changes in the Structure of Sovereign Borrowing; III. Econometric Analysis and Results; A. Determinants of Total Issuance; 2A. Determinants of Total Debt Issuance; 2B. Determinants of Total Debt Issuance-Exploring Heterogeneity; B. Determinants of Issuance Composition; 3A. Determinants of Auction Share in Total Issuance-Censored Tobit Estimation; 3B. Determinants of Auction Share in Total Issuance-Exploring Heterogeneity.
  • 4A. Determinants of DLTF Issuance-Censored Tobit Estimation4B. Determinants of DLTF Issuance-Exploring Heterogeneity; IV. Conclusion; A1. Changes in Total Debt Issuance; A2. Changes in Number of Issues; A3. Changes in Average Size of Issue; A4. Variable Definitions and Sources; Determinants of Total Debt Issuance-Estimated in Levels; References; Footnotes.

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