Are European bond markets overshooting?
Detaljna analiza
15-05-2017
We find that monetary variables, spillovers from US financial markets, expectations and sovereign risks are the main determinants of long-term interest rates in the EA. The empirical model does not identify recent overshooting. The observed rise since August 2016 is attributed to two factors: a) the increase in US long-term interest rates after the reversal in the Fed’s monetary stance; b) political tensions in France, Italy or Spain which generated higher perceived political risk.
Detaljna analiza
Vanjski autor
Christophe BLOT, Jérôme CREEL, Paul HUBERT, Fabien LABONDANCE (OFCE)
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Vrsta publikacije
Ključna riječ
- države članice EU-a
- dugoročno financiranje
- EKONOMIJA
- ekonomska analiza
- ekonomska analiza
- ekonomska geografija
- euroobveznica
- europodručje
- FINANCIJE
- financijski rizik
- financiranje i ulaganje
- kamata
- kreditne i financijske institucije
- monetarna ekonomija
- monetarni odnosi
- računi narodnoga gospodarstva
- slobodno kretanje kapitala
- trošak posuđivanja
- ZEMLJOPIS
- štednja