منابع مشابه
Specialization and Risk Sharing: Evidence from European Regions
Economic theory emphasizes that pursuing risk sharing allows to exploit benefits from comparative advantages and economies of scale. Unlike previous works we test (and reject) the assumption of parameter homogeneity across geographical units in measuring risk sharing. The estimated regional-specific index of risk sharing is then used as a covariate in a model of industrial specialization for th...
متن کاملthe study of practical and theoretical foundation of credit risk and its coverage
پس از بررسی هر کدام از فاکتورهای نوع صنعت, نوع ضمانت نامه, نرخ بهره , نرخ تورم, ریسک اعتباری کشورها, کارمزد, ریکاوری, gdp, پوشش و وثیقه بر ریسک اعتباری صندوق ضمانت صادرات ایران مشخص گردید که همه فاکتورها به استثنای ریسک اعتباری کشورها و کارمزد بقیه فاکتورها رابطه معناداری با ریسک اعتباری دارند در ضمن نرخ بهره , نرخ تورم, ریکاوری, و نوع صنعت و ریسک کشورها اثر عکس روی ریسک اعتباری داردو پوشش, وثی...
15 صفحه اولEuro Corporate Bonds Risk Factors ∗
This paper investigates the determinants of credit spread changes on bonds denominated in Euro. The analysis is carried out using a panel data on Euro bonds. We try to asses the relative importance of market and idiosyncratic factors in explaining the movements in credit spread. Because credit spread changes can be easily viewed as an excess return of corporate bonds over treasury, we adopt a f...
متن کاملThe Sources of Sharing Externalities: Specialization versus Competition∗
We explore the nature of sharing externalities in a non-CES model of monopolistic competition with a di erentiated intermediate good. We nd that, in addition to the e ect that an increase in the number of available varieties of intermediate inputs may have on the total factor productivity of the nal good sector (specialization/complexity e ect), another important e ect comes to play a prominent...
متن کاملSovereign risk and macroeconomic stability in the euro area
Sovereign risk premia have risen sharply in several European countries, contributed to increased credit spreads in the private sector. If monetary policy cannot offset these credit spreads because it is constrained by the zero lower bound, sovereign risk threatens macroeconomic stability: private-sector beliefs of a weakening economy may become self-fulfilling. In this paper, we put forward a t...
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ژورنال
عنوان ژورنال: JCMS: Journal of Common Market Studies
سال: 2017
ISSN: 0021-9886
DOI: 10.1111/jcms.12571