We study the long-run relationship between public debt and growth in a large panel of
countries. Our analysis builds on theoretical arguments and data considerations in …

This paper uses an instrumental variable approach to study whether public debt has a
causal effect on economic growth in a sample of OECD countries. The results are consistent …

Against the background of the euro area sovereign debt crisis, our paper investigates the
relationship between public debt and economic growth and adds to the existing literature in …

We quantify the difference in the convenience yield of US Treasuries and government bonds
of other developed countries by measuring the deviation from covered interest parity …

Topical and timely, this book offers an economically informed constitutional analysis on
European responses to the crisis. It discusses the longer-term proposals on the table …

Do bond investors demand credit quality or liquidity? The answer is both, but at different
times and for different reasons. Using data on the Euro-area government bond market …

We offer a detailed empirical investigation of the EMU sovereign-debt crisis. We find a
marked shift in market pricing behaviour from a 'convergence-trade'model before August …

This paper explains the determinants of widening sovereign bond yield spreads vis-à-vis
Germany in selected euro area countries during the period end-July 2007 to end-March …

This paper uses a new data set on budgetary institutions in Europe to examine the impact of
fiscal rules and budget procedures in EU countries on public finances. It briefly describes the …

This paper provides a study of bond yield differentials among EU government bonds on the
basis of a unique data set of issue spreads in the US and DM (Euro) bond market between …