Euro Area Sovereign Risk During the Crisis.

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainability. From this perspective, to what extent do movements in euro area sovereign spread...

Descripción completa

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Zoli, Edda
Otros Autores: Sgherri, Silvia
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
2008-2009
Financial crises > European Union countries > Econometric models.
Global Financial Crisis, 2008-2009.
Risk management > European Union countries > Econometric models.
Crise financière mondiale, 2008-2009.
Gestion du risque > Pays de l'Union européenne > Modèles économétriques.
Financial crises > Econometric models
Risk management > Econometric models
European Union countries
Acceso en línea:Texto completo
Descripción
Sumario:While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainability. From this perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are mainly driven by a common time-varying factor, mimicking global risk repricing. Since October 2008, however, there is e.
Descripción Física:1 online resource (44 pages)
ISBN:9781452749051
1452749051
1451917899
9781451917895

Ejemplares similares