Are European bond markets overshooting?
Analiżi fil-Fond
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.
Analiżi fil-Fond
Awtur estern
Christophe BLOT, Jérôme CREEL, Paul HUBERT, Fabien LABONDANCE (OFCE)
Dwar dan id-dokument
Tip ta’ pubblikazzjoni
Kelma għat-tiftix
- analiżi ekonomika
- analiżi ekonomika
- EKONOMIJA
- ekonomija monetarja
- Eurobond
- FINANZI
- finanzjament ta’ terminu twil
- finanzjar u investiment
- imgħax
- istituzzjonijiet finanzjarji u kreditu
- kontabbiltà nazzjonali
- kost tas-self
- moviment liberu tal-kapital
- relazzjonijiet monetarji
- riskju finanzjarju
- Stat Membru tal-UE
- tfaddil
- ĠEOGRAFIJA
- ġeografija ekonomika
- żona tal-euro