Bundesbank paper models spillover effects of risk shocks in financial crisis
Paper finds spillover effects of general risk are stronger than spillovers in response to bailouts
A working paper published by the Deutsche Bundesbank looks at the impact during the global financial crisis of changes in different countries' sovereign and bank risk ratings on neighbouring economies.
In Spillover effects of credit default risk in the euro area and the effects on the euro: a GVAR approach, Timo Bettendorf looks at recent economic data for 12 economies. He estimates a global vector autoregression (GVAR) model for nine eurozone countries plus the US, Japan and the UK, over the
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