[PDF] Top 20 The determinants of sovereign bond yield spreads in the EMU

... on EMU government bond yields, or their spread against Germany, fall into two broad categories, respectively covering the period prior to and following the global financial ...groups of ... See full document

... between the EMU countries that can spread throughout EU countries. The EMU countries more affected by the three risks factors mentioned at the beginning of this work, ... See full document

... groups of regressors that we shall divide as: i) fiscal fundamentals; ii) liquidity factors; iii) risk-related factors; and iv) control ...variables. The fiscal fundamentals include the commonly used ... See full document

... heterogeneity in an explicit manner based on time- series regressions for ten euro area ...countries. In line with existing literature, we model spreads on proxies of international financial ... See full document

... Of the three fundamental variables used to assess the state of the Portuguese government, two help to explain the rise in the yield spread: the debt ... See full document

... to the size and depth of the government bond market and aims to capture the possibility of capital losses in the event of early liquidation or significant ... See full document

... reports the average change between t-1 and t+1 in the adjusted measure of sovereign yields (in decimal points) spreads and CDS (in basis points) spreads ... See full document

... Moreover, the EMU is a group of countries that have a political project of shared sovereignty, including a common ...since the foundation of the Euro in January ... See full document

... included in the regression. When replaced by the variation of the debt level, the result is approximately the ...increase in international risk proved to increase ... See full document

... and the government budget balance represent those deter- minants most directly linked with sovereign default risk as they capture deterioration in fiscal ...that spreads should widen when ... See full document

... known the importance of economic stability for the control of interest rates, providing evidence that the volatility of macroeconomic determinants generates a worsening ... See full document

... involve the blending of silica sand, bentonite, coal dust (or mixture) and ...water. The purpose of mixing is to homogenise the mixture and ensure that the rebonding agent should ... See full document

... bath in free form, as a master alloy or a salt, belong to well-known modifiers of hypereutectic ...that in such case the aluminum phosphide, AlP, becomes the nucleus of ... See full document

... on the tools for cutting, for dies and knives, for stamping and drawing tools, hobs, thread rolling tools and in many other applications due to her typical properties - high hardness, good toughness and ... See full document

... shows the dialog box for assigning the signii cance of each criterion related to others in the predei ned ...assigning the weights that is coni dent in solving real ... See full document

... evaluate the susceptibility to hot cracking in the high-temperature brittleness range, we have determined the changes of temperature of individual points when the alloy ... See full document

... Introduction of aluminium in the quantity of either about ...to the arising of the ferrite-pearlite matrix containing the precipitates of free cementite ... See full document

... by the BP load (MAP), HR, and SNS activity, there may exist some other important components (collagen protein synthesis and structure) and vascular risk factors (hyperglycaemia, dyslipidaemia, inlammation) ... See full document

... use of electronic government in the function of serving the ...community. The emphasis in information technology to avoid the digital gap in at ...least. ... See full document

... interpretation of the results of model (3), which covers the period of the crisis, it is necessary to take into consideration that structural breaks of relations occurred ... See full document