| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14392 |
| DP14392 Different no more: Country spreads in advanced and emerging economies | |
| Benjamin Born; Gernot Müller; Johannes Pfeifer; Susanne Wellmann | |
| 发表日期 | 2020-02-06 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Interest-rate spreads fluctuate widely across time and countries. We characterize their behavior using some 3,200 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Before the financial crisis, spreads are 10 times more volatile in emerging economies than in advanced economies. Since 2008, the behavior of spreads has converged across country groups, largely because it has adjusted in advanced economies. We also provide evidence on the transmission of spread shocks and find it similar across sample periods and country groups. Spread shocks have become a more important source of output fluctuations in advanced economies after 2008. |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Country spreads Country risk Interest-rate shocks Financial crisis Business cycle Spread shocks Average treatment effect |
| URL | https://cepr.org/publications/dp14392 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543286 |
| 推荐引用方式 GB/T 7714 | Benjamin Born,Gernot Müller,Johannes Pfeifer,et al. DP14392 Different no more: Country spreads in advanced and emerging economies. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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