Are European bond markets overshooting?
Grinnanailís
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.
Grinnanailís
Údar seachtarach
Christophe BLOT, Jérôme CREEL, Paul HUBERT, Fabien LABONDANCE (OFCE)
Maidir leis an doiciméad seo
Saghas foilseacháin
Eochairfhocal
- AIRGEADAS
- an limistéar euro
- anailís eacnamaíoch
- anailís eacnamaíoch
- Ballstát den Aontas Eorpach
- caidreamh airgeadaíochta
- coigilteas
- costas iasachtaithe
- cuntais náisiúnta
- EACNAMAÍOCHT
- eacnamaíocht airgeadaíochta
- Eurobhanna
- geografaíocht eacnamaíoch
- institiúidí airgeadais agus creidmheas
- maoiniú agus infheistíocht
- maoiniú fadtéarmach
- riosca airgeadais
- saorghluaiseacht chaipitil
- TÍREOLAÍOCHT
- ús