Fall in equities most significant global impact of euro crisis, says ECB paper
A European Central Bank (ECB) working paper, published yesterday, attempts to measure the impact of the euro debt crisis on global financial markets.
The Global Effects of the Euro Debt Crisis, by Livio Stracca, analyses the impact of the crisis on equity returns, exchange rates and government bond yields in 12 advanced and 13 emerging countries between January 2010 and May 2013.
The author identifies 18 "key exogenous crisis events" and confirms they had "sizable effects" on global financial
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