Government bond yield spreads in EMU countries: the story of an ephemeral convergence
| Autor(a) principal: | |
|---|---|
| Data de Publicação: | 2014 |
| Tipo de documento: | Dissertação |
| Idioma: | eng |
| Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
| Texto Completo: | http://hdl.handle.net/10362/11530 |
Resumo: | A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics |
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Government bond yield spreads in EMU countries: the story of an ephemeral convergenceFiscal fundamentalsYields’ convergenceCredit riskA Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and EconomicsThe inception of the European Monetary Union appeared to have accomplished the yields’ convergence goal of Maastricht. Suddenly however, spreads against Germany started escalating towards the values of the early nineties. Through the usage of a fixed-effects Arellano-Bond dynamic panel estimation, this thesis tries to discern the role of liquidity and fiscal fundamentals in determining yield differentials for ten EMU countries. While markets tend to monitor high debtors via more structural fiscal measures, a late and abrupt reaction, as risk perceptions increased, unveiled the unannounced fiscal unsoundness of the peripheral. The consequent defaults will put into question the credibility of the Stability and Growth Pact. In this context, unobserved individual effects seem to be the least of our concerns.NSBE - UNLTavares, JoséRUNAbreu, Francisco Trigueiros Sampaio Farto e2014-03-07T15:19:28Z2014-012014-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/11530TID:201475820enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:46:03Zoai:run.unl.pt:10362/11530Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:20:20.536055Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
| dc.title.none.fl_str_mv |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| title |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| spellingShingle |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence Abreu, Francisco Trigueiros Sampaio Farto e Fiscal fundamentals Yields’ convergence Credit risk |
| title_short |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| title_full |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| title_fullStr |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| title_full_unstemmed |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| title_sort |
Government bond yield spreads in EMU countries: the story of an ephemeral convergence |
| author |
Abreu, Francisco Trigueiros Sampaio Farto e |
| author_facet |
Abreu, Francisco Trigueiros Sampaio Farto e |
| author_role |
author |
| dc.contributor.none.fl_str_mv |
Tavares, José RUN |
| dc.contributor.author.fl_str_mv |
Abreu, Francisco Trigueiros Sampaio Farto e |
| dc.subject.por.fl_str_mv |
Fiscal fundamentals Yields’ convergence Credit risk |
| topic |
Fiscal fundamentals Yields’ convergence Credit risk |
| description |
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Economics from the NOVA – School of Business and Economics |
| publishDate |
2014 |
| dc.date.none.fl_str_mv |
2014-03-07T15:19:28Z 2014-01 2014-01-01T00:00:00Z |
| dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
| dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
| format |
masterThesis |
| status_str |
publishedVersion |
| dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/11530 TID:201475820 |
| url |
http://hdl.handle.net/10362/11530 |
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TID:201475820 |
| dc.language.iso.fl_str_mv |
eng |
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eng |
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info:eu-repo/semantics/openAccess |
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openAccess |
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application/pdf |
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NSBE - UNL |
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NSBE - UNL |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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