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| rdf:type
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| Description
| - The paper examines the effect of fiscal policy on financial markets and investigates whether fiscal discipline affects sovereign risk spread. We performed estimation on three different panels with the goal to find differences between euro and non-euro countries. We used next variables for testing the impact on sovereign bond spread: German Bunds' interest, budget balance, debt, difference between members´ debt and value of German debt and the fiscal rules index. Correlation analysis identified the strong correlation between sovereign yield spread and budget balance. This is the common trend for all panels. Fiscal rules index is strong correlated with spread too and it is more noticeable in EURO panel. The biggest difference between panels was found for the debt and German interest rate. These variables are strong correlated only in EURO countries. Surprisingly, there is no correlation in nonEURO and EURO24 panels. Next, we used Granger causality methodology. In short-term, there is two -way causality between debt and spread in EURO panel. Findings also confirm one-way causalities between balance and spread and between yield_de and spread in EU24 and EURO panels; between spread and debt in EU24 and nonEURO panels. Results confirm differences between panels and there is no common pattern of sovereign yield spread determinants in the EU.
- The paper examines the effect of fiscal policy on financial markets and investigates whether fiscal discipline affects sovereign risk spread. We performed estimation on three different panels with the goal to find differences between euro and non-euro countries. We used next variables for testing the impact on sovereign bond spread: German Bunds' interest, budget balance, debt, difference between members´ debt and value of German debt and the fiscal rules index. Correlation analysis identified the strong correlation between sovereign yield spread and budget balance. This is the common trend for all panels. Fiscal rules index is strong correlated with spread too and it is more noticeable in EURO panel. The biggest difference between panels was found for the debt and German interest rate. These variables are strong correlated only in EURO countries. Surprisingly, there is no correlation in nonEURO and EURO24 panels. Next, we used Granger causality methodology. In short-term, there is two -way causality between debt and spread in EURO panel. Findings also confirm one-way causalities between balance and spread and between yield_de and spread in EU24 and EURO panels; between spread and debt in EU24 and nonEURO panels. Results confirm differences between panels and there is no common pattern of sovereign yield spread determinants in the EU. (en)
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| Title
| - The impact of fiscal discipline on sovereign risk spread
- The impact of fiscal discipline on sovereign risk spread (en)
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| skos:prefLabel
| - The impact of fiscal discipline on sovereign risk spread
- The impact of fiscal discipline on sovereign risk spread (en)
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| skos:notation
| - RIV/47813059:19520/13:#0002488!RIV14-MSM-19520___
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| http://linked.open...avai/riv/aktivita
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| http://linked.open...avai/riv/aktivity
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| http://linked.open...vai/riv/dodaniDat
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| http://linked.open...aciTvurceVysledku
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| http://linked.open.../riv/druhVysledku
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| http://linked.open...iv/duvernostUdaju
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| http://linked.open...titaPredkladatele
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| http://linked.open...dnocenehoVysledku
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| http://linked.open...ai/riv/idVysledku
| - RIV/47813059:19520/13:#0002488
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| http://linked.open...riv/jazykVysledku
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| http://linked.open.../riv/klicovaSlova
| - fiscal discipline; fiscal rules; debt; budget deficit; sovereign risk spreads; government bond yields (en)
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| http://linked.open.../riv/klicoveSlovo
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| http://linked.open...ontrolniKodProRIV
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| http://linked.open...v/mistoKonaniAkce
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| http://linked.open...i/riv/mistoVydani
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| http://linked.open...i/riv/nazevZdroje
| - Conference Proceeding of 11th International Conference Economic Policy in the European Union Member Countries
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| http://linked.open...in/vavai/riv/obor
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| http://linked.open...ichTvurcuVysledku
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| http://linked.open...cetTvurcuVysledku
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| http://linked.open...UplatneniVysledku
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| http://linked.open...iv/tvurceVysledku
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| http://linked.open...vavai/riv/typAkce
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| http://linked.open.../riv/zahajeniAkce
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| number of pages
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| http://purl.org/ne...btex#hasPublisher
| - Vysoká škola báňská - Technická univerzita Ostrava
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| https://schema.org/isbn
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| http://localhost/t...ganizacniJednotka
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