Sovereign Risk and Belief-Driven Fluctuations in the Euro Area /

Sovereign Risk and Belief-Driven Fluctuations in the Euro Area /

Sovereign risk premia in several euro area countries have risen markedly since 2008, driving up credit spreads in the private sector as well. We propose a New Keynesian model of a two-region monetary union that accounts for this 'sovereign risk channel.' The model is calibrated to the euro...

書目詳細資料
主要作者:	Corsetti, Giancarlo
其他作者:	Kuester, Keith, Meier, Andre, Mueller, Gernot
格式:	雜誌
語言:	English
出版:	Washington, D.C. : International Monetary Fund, 2013.
叢編:	IMF Working Papers; Working Paper ; No. 2013/227
在線閱讀:	Full text available on IMF

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