全球智库信息集成服务系统(G2TT): Rules and risk in the euro area

G2TT

来源类型	Working Paper
规范类型	工作论文
	Rules and risk in the euro area
	Anna Iara; Guntram B. Wolff
发表日期	2011-10-03
出版年	2011
语种	英语
概述	In this working paper, with a unique data set summarising the quality of rules-based fiscal governance in European Union member states, the authors show that stronger fiscal rules in euro-area members reduce sovereign risk premia, in particular in times of market stress.
摘要	0.5 Mb Download PDF Anna Iara and Guntram Wolff develop a model of sovereign spreads that are determined by the probability of default in interaction with the level of risk aversion. Estimation of the model confirms the central predictions. The legal basis for the rules, and mechanisms for enforcing them, are the most important dimensions of rulesbased fiscal governance.
主题	European Macroeconomics & Governance
URL	https://bruegel.org/2011/10/rules-and-risk-in-the-euro-area/
来源智库	Bruegel (Belgium)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/429327
推荐引用方式 GB/T 7714	Anna Iara,Guntram B. Wolff. Rules and risk in the euro area. 2011.