46. What Explains the Surge in Euro Area Sovereign Spreads During the Financial Crisis of 2007–2009?

  1. Robert W. Kolb
  1. Maria-grazia Attinasi1,
  2. Cristina Checherita2 and
  3. Christiane Nickel3

Published Online: 29 NOV 2011

DOI: 10.1002/9781118267073.ch46

Sovereign Debt: From Safety to Default

Sovereign Debt: From Safety to Default

How to Cite

Kolb, R. W. (2011) What Explains the Surge in Euro Area Sovereign Spreads During the Financial Crisis of 2007–2009?, in Sovereign Debt: From Safety to Default, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118267073.ch46

Author Information

  1. 1

    Economist, Fiscal Policies Division, European Central Bank

  2. 2

    Economist, Fiscal Policies Division, European Central Bank

  3. 3

    Head of the Fiscal Analysis Section, Fiscal Policies Division, European Central Bank

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 21 FEB 2011

ISBN Information

Print ISBN: 9780470922392

Online ISBN: 9781118267073

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Keywords:

  • euro area sovereign spreads;
  • economic and monetary union;
  • German bond;
  • financial crisis;
  • capital markets

Summary

This chapter contains sections titled:

  • The Empirical Evidence

  • Risk Transfer from the Private to the Public Sector: The Role of Bank Rescue Packages

  • Robustness Checks and Relative Contribution of Factors

  • Policy Lessons

  • Notes

  • About the Authors