scholarly journals The Dynamics of Spillover Effects during the European Sovereign Debt Crisis

2013 ◽  
Author(s):  
Adrian Alter ◽  
Andreas Beyer
Keyword(s):  
Sovereign Debt ◽  
Debt Crisis ◽  
Spillover Effects ◽  
Sovereign Debt Crisis ◽  
European Sovereign Debt Crisis

scholarly journals Spillover Effects From Next Generation EU

2020 ◽  
Vol 55 (5) ◽  
pp. 325-331
Author(s):  
Oliver Picek
Keyword(s):  
European Commission ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Spillover Effects ◽  
Sovereign Debt Crisis ◽  
Next Generation ◽  
European Sovereign Debt Crisis ◽  
Political Unification ◽  
Stark Contrast

Abstract In July 2020, the European Commission announced its €750 billion package to revive the postpandemic European economy, Next Generation EU. The programme comprises a number of loans and grants that will be funded by taking out European debt. Although the rules on liability sharing for Next Generation EU prevent a significant mutualisation of the debt, European leaders have taken the long-recognised significant first step towards European financial and political unification that stands in stark contrast to the misguided austerity programmes during the European sovereign debt crisis.

scholarly journals The Impact of the Introduction of Uniform European Collective Action Clauses on European Government Bonds as a Regulatory Result of the European Sovereign Debt Crisis

2020 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
Nicoletta Layher ◽  
Eyden Samunderu
Keyword(s):  
European Union ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
Sovereign Debt Crisis ◽  
The European Union ◽  
Bond Yields ◽  
Member States ◽  
Sovereign Bond ◽  
European Sovereign Debt Crisis ◽  
Collective Action Clauses

This paper conducts an empirical study on the inclusion of uniform European Collective Action Clauses (CACs) in sovereign bond contracts issued from member states of the European Union, introduced as a regulatory result of the European sovereign debt crisis. The study focuses on the reaction of sovereign bond yields from European Union member states with the inclusion of the new regulation in the European Union. A two-stage least squares regression analysis is adopted in order to determine the extent of impact effects of CACs on member states sovereign bond yields. Evidence is found that CACs in the European Union are priced on financial markets and that sovereign bond yields do respond to the inclusion of uniform CACs in the European Union.

Sign in / Sign up

Export Citation Format

Share Document