Policy credibility and sovereign credit : the case of the new EU member states /

Annotation

Bibliographic Details
Call Number:Libro Electrónico
Main Authors: Hauner, David (Author), Jonáš, Jiří (Author), Kumar, Manmohan S. (Author)
Corporate Author: International Monetary Fund. Fiscal Affairs Department
Format: Electronic eBook
Language:Inglés
Published: [Washington, D.C.] : International Monetary Fund, 2007.
Series:IMF working paper ; WP/07/1.
Subjects:
Union européenne.
Fiscal policy > Europe, Central.
Fiscal policy > Europe, Eastern.
Fiscal policy > European Union countries.
Credit ratings > Europe, Central.
Credit ratings > Europe, Eastern.
Credit ratings > European Union countries.
Debts, Public > Europe, Central.
Debts, Public > Europe, Eastern.
Debts, Public > European Union countries.
Fiscal policy > Europe.
Econometric models.
Credit.
Politique fiscale > Europe.
Taux de change > Europe.
Modèles économétriques.
Crédit.
Politique fiscale > Europe centrale.
Politique fiscale > Europe de l'Est.
Politique fiscale > Pays de l'Union européenne.
Cotes de solvabilité > Europe centrale.
Cotes de solvabilité > Europe de l'Est.
Cotes de solvabilité > Pays de l'Union européenne.
Dettes publiques > Europe centrale.
Dettes publiques > Europe de l'Est.
Dettes publiques > Pays de l'Union européenne.
credit.
Econometric models
Credit
Credit ratings
Debts, Public
Fiscal policy
Europe
Central Europe
Eastern Europe
European Union countries
Computer network resources.
Online Access:Texto completo
Table of Contents:
  • I. Introduction; II. Policy Credibility and Sovereign Credit; III. The Case of the New Member States; IV. Methodology and Data; A. Testing Strategy; B. Data; C. Estimation Issues; II. Results; A. All Countries; B. New Member States; C. Robustness; III. Conclusions; References; Figure; EU8-Government Debt, Interest Expenditure, and Effective Interest Rate (1995 = 100); Tables; 1. Variable Description; 2. Sovereign Ratings-Recursive Estimates; 3. Foreign Currency Spreads-Recursive Estimates; 4. Local Currency Yields-Recursive Estimates
  • 5. Illustrative Quantitative Effects of NMS Coefficients6. Sovereign Ratings-Robustness Checks; 7. Foreign Currency Spreads-Robustness Checks; 8. Local Currency Yields-Robustness Checks; Appendix; Computation of Bond Spreads; Appendix; Computation of Bond Spreads

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