原创力文档- 1、本文档共27页，可阅读全部内容。
- 2、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
- 3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击 这里二次下载。
- 4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
查看更多
European economic and monetary union sovereign debt markets推荐
WPS7149
d
e
z
i
r
o
h
t
u
A
e
r Policy Research Working Paper 7149
u
s
o
l
c
s
i
D
c
i
l
b
u
P
d
e
z
i
r
o
h
t
u
A
e
r
u European Economic and Monetary Union
s
o
l
c
s
i Sovereign Debt Markets
D
c
i
l
b
u
P
Ahmet Sensoy
Erk Hacihasanoglu
d
e Ahmed Rostom
z
i
r
o
h
t
u
A
e
r
u
s
o
l
c
s
i
D
c
i
l
b
u
P
d
e
z
i
r
o
h
t
u
A
e
r
u
s
o
l
c
s
i
D
c
i
l
b
u
P
Finance and Markets Global Practice Group
January 2015
Policy Research Working Paper 7149
Abstract
This paper focuses on developments in the European the sovereign debt turmoil. The segmentation structure is
Economic and Monetary Union sovereign debt markets clearly visualized, revealing the potential paths for crisis
in the past decade. The first part analyzes the integra- and recovery transmission in the future. In the second
tion and segmentation structure of the bond markets of part, the paper comments on the recent decreasing trend
the Economic and Monetary Union before and after the in Economic and Monetary Union member bond yields
sovereign debt crisis, by introducing the novel concept of and their increasing degree of co-movement. Accord-
correlation-based stable networks. Accordingly, a fair inte- ingly, the paper argues that these changes do not depend
gration is observed between the bond markets during the
文档评论（0）