Taming Debt: Can GDP-Linked Bonds do the Trick?

Quenching Star Formation: Can AGN Do the Trick?

We post-process galaxy star formation histories in cosmological hydrodynamics simulations to test quenching mechanisms associated with AGN. By comparing simulation results to color-magnitude diagrams and luminosity functions of SDSS galaxies, we examine whether “quasar mode” or “radio mode” AGN feedback can yield a realistic red sequence. Both cases yield red sequences distinct from the blue cl...

Why a 100 % debt - to - GDP before the crisis ?

In 2007, Greece's public debt was 103% of GDP (gross domestic product). This high level explains at least partly why Greece has been particularly affected by the crisis. This is why we deal with the period before the outbreak of the crisis (1988-2007). The public debt having this characteristic to transmit itself from one year to another, much of the current debt is the heir of past development...

Towards the semantic web in e-tourism: can annotation do the trick?

Semantic Web technology may support more advanced E-Commerce. Namely the representation of products and services in the form of ontologies will simplify the automated extraction and processing of explicit information and will make implicit information available for the discovery and comparison of offerings. One common assumption is that the Semantic Web can be made a reality by gradually augmen...

Valuation of defaultable bonds and debt restructuring

Liquidity, Government Bonds and Sovereign Debt Crises

This paper analyses the European financial crisis through the lens of the sovereign bond liquidity. Using novel data we show that government securities are the prime collateral in the European repo market, which is becoming a primary source of funding for the banking system in the Euro area. We document that the repo haircuts on peripheral government bonds sharply increased during the crisis, r...