[PDF] Top 20 Cointegration and Structural Breaks in the EU Sovereign Debt Crisis

... shift in the trend ...describe and characterize many macroeconomic time series as having temporary shocks (stationary) around a broken deterministic trend ...function. In essence, if there is ... See full document

... possible structural changes in the stock market and interest rate variables (in PIIGS states) as well as the relationship between ...first the ZA and the LS ... See full document

... to the sovereign debt crisis in the Member States of the European Union, triggered by any of the ECB control failure, and its consequent impact on lending to ... See full document

... all the MoU’s prescriptions, a couple of crucial reforms stand out (and explain the downward variation in Figure ...First, the «organized decentralization of collective bargaining», ... See full document

... for the European Sovereign debt crisis, some more related with the way the European Monetary Union (EMU) is designed, others related to country-specific ...to the monetary ... See full document

... on the impact effect analysis of the European markets contamination by sovereign debt (particularly in Portugal, Spain, France and ...Ireland). The smooth transition ... See full document

... for the Cypriot economic situation, due to a complex of factors. It was the first time after the EU accession when its internal weaknesses became visible, as the economic downturn of 2009 had ... See full document

... (1) and its extensions for the full sample period without allowing for possible structural ...breaks. The results from our 2SLS estimations are reported in Table 2. In all ... See full document

... studies the impact of the European sovereign debt crisis on Portuguese banks’ share ...assess the behavior of banks’ share prices before, and after a credit rating ... See full document

... assess the determinants of the 10-year sovereign yield for the period 2000 –2015, in Portugal and in ...that the long-term Portuguese sovereign yield ... See full document

... Analyzing the situation in terms of the established warning thresholds, a number of remarks can be made; in the case of the total external debt to GDP ratio, the ... See full document

... that the losses stemming from the fall in terms of trade and the interest rate rise contributed to the 1980s’ debt crisis — D ebt Crisis simply, ...bring ... See full document

... pre-crisis, the Central Banks (CBs) activity in the major economies came to be mainly about a directive rate-setting within a mandate for stable ...inflation. The United States, ... See full document

... to the confirmation of the existence of contagion as opposed to interdependence or ...spillover. The number of connections detected among countries (in both contagion windows), increased after ... See full document

... while, the economic world was concerned more and more about sovereign ...Episodes in which states have entered into default occurred, even centuries ...like the one where Edward III ... See full document

... use the intertemporal current account constraint as a theoretical framework underlying the different tests of stationarity of current account- to-GDP ratios (also allowing for structural ... See full document

... to the multivariate ...for the presence of a structural break in a univariate time series may, by contagion, result in structural changes in other economic ...Second, ... See full document

... Dreger and Wolters [15] investigated the implications of an increase in liquidity in the years preceding the global financial crises on the formation of price bubbles ... See full document

... recently, the literature on financial-real economy linkage recorded a new wave, exploring the impact of the financial and the euro area sovereign debt crises on credit ... See full document

... of the ways of adjusting to changed market conditions was enhanced lexibi- lity and innovativeness in the policy and techniques for managing public debt, as is shown by ... See full document