This paper surveys recent advances in empirical studies of the monetary transmission
mechanism, with special attention to Central and Eastern Europe (CEE). Our results indicate …

This paper surveys recent advances in empirical studies of the monetary transmission
mechanism (MTM), with special attention to Central and Eastern Europe. In particular, while …

This paper investigates the effects of macroeconomic fundamentals on emerging market
sovereign credit spreads. We find that the volatility of terms of trade in particular has a …

This paper focuses on risk premiums paid by central governments in Europe and sub-
national governments in Germany, Spain, and Canada, using data for bond yield spreads for …

We investigate the effect of fiscal institutions such as the strength of the finance minister in
the budget process and deficits on interest rate spreads of Eurozone countries. Deficits …

We investigate the impact of global financial conditions, US macroeconomic news and
domestic fundamentals on the evolution of EMBI spreads for a panel of 18 emerging market …

We investigate the effects of official fiscal data and creative accounting signals on interest
rate spreads between bond yields in the European Union. We find that two different …

We explore the performances of inflation targeting (IT) adoption in terms of fiscal discipline
(FD), while most existing studies focus exclusively on the role of FD as a precondition for IT …

Abstract The Working Papers should not be reported as representing the views of the Banco
Central do Brasil. The views expressed in the papers are those of the author (s) and do not …

In this article, we analyze how much of the reduction in emerging markets' spreads can be
ascribed to specific factors—linked to the improvement in a given country's fundamentals …