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 …

The global financial crisis and the debt crisis of the EU countries revealed serious
weaknesses in fiscal reporting. As a consequence, uncertainties regarding the real situation …

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 …

We study the determinants of sovereign bond yield spreads across 10 EMU countries
between Q1/1999 and Q1/2010. We apply a semiparametric time-varying coefficient model …

We study the determinants of sovereign bond spreads in the euro area since the introduction
of the euro. We show that an aggregate risk factor is a main driver of spreads. This factor …

We use a panel of euro area countries to assess the determinants of long-term sovereign
bond yield spreads over the period 1999.01-2010.12. We find that, unlike the period …

Fiscal transparency and participation in government budgeting are widely promoted, yet
claims about their benefits are rarely based on convincing evidence. We provide the first …

We offer a detailed empirical investigation of the European sovereign debt crisis based on
the theoretical model by Arghyrou and Tsoukalas (2010). We find evidence of a marked shift …

This article attempts to evaluate the role the legislative budgetary oversight plays in
enhancing budget transparency. This relationship has not been empirically tested so far. For …

We show that stronger fiscal rules in Euro area members reduce sovereign risk premia, in
particular in times of market stress. Using a unique data set of rules-based fiscal governance …