Has political communication during the crisis impacted sovereign bond spreads in the euro area?/ created by Philipp Mohl and David Sondermann

By:

Mohl, Philipp [author]

Contributor(s):

Sondermann, David [author]

Material type: Text

TextSeries: Applied economics letters ; Volume 20, number 1New York: Taylor and Francis, 2013Content type:

text

Media type:

unmediated

Carrier type:

volume

ISSN:

13504851

Subject(s):

Sovereign bond spreads -- Financial crisis -- Political communications

LOC classification:

HB1.A666 APP

Online resources:

Click here to access online

Abstract: Using thousands of news agencies reports from May 2010 to June 2011, we find that statements about restructuring, bailout and the involvement of the European Financial Stability Facility (EFSF) have impacted bond spreads of countries in the periphery vis-à-vis Germany. Our findings also indicate that the more different euro area governments issued statements at the same time, the more bond spreads have increased. Finally, statements from politicians from AAA-rated countries seemed to have a particularly strong impact on spreads.

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Holdings
Item type	Current library	Call number	Vol info	Copy number	Status	Notes	Date due	Barcode
Journal Article	Main Library - Special Collections	HB1.A666 APP (Browse shelf(Opens below))	Vol. 20, no.1 (pages 48-61)	SP17971	Not for loan	For in house use only

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Using thousands of news agencies reports from May 2010 to June 2011, we find that statements about restructuring, bailout and the involvement of the European Financial Stability Facility (EFSF) have impacted bond spreads of countries in the periphery vis-à-vis Germany. Our findings also indicate that the more different euro area governments issued statements at the same time, the more bond spreads have increased. Finally, statements from politicians from AAA-rated countries seemed to have a particularly strong impact on spreads.

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