. "978-80-87106-62-4" . . "Political Economy of Eurozone Crisis: Is Fiscal Union Feasible?" . . "Brno" . . . "Do fiscal variables matter for sovereign risk spread?" . . "The paper examines impact of fiscal policy on financial markets. In recent years, differences in government bond yields have sharply increased in the euro area. Part of this increase can be attributed to developments in public debt and contingent liabilities related to the banking sector. Price of government bonds reflects market confidence in governments' commitment towards sustainable fiscal policies. Fiscal governance has an impact on the sovereign yield spreads by reducing the probability of default. This has two effects on the sovereign spreads: first, it determines the standard risk premium that compensates for the possibility of default no matter what the extent of risk aversion is. Second, it determines the variance of the payments from the risky bond. The aim of the paper is to analyze impact of fiscal variables on sovereign risk spread in selected EU member states during 1990-2010. Panel regression is used as a basic method of research."@en . "1"^^ . "Do fiscal variables matter for sovereign risk spread?" . "[BC4850CD115E]" . "fiscal policy, debt, sovereign risk spreads, government bond yields"@en . "Bu\u010Dovice" . . "2012-01-01+01:00"^^ . "Do fiscal variables matter for sovereign risk spread?"@en . "The paper examines impact of fiscal policy on financial markets. In recent years, differences in government bond yields have sharply increased in the euro area. Part of this increase can be attributed to developments in public debt and contingent liabilities related to the banking sector. Price of government bonds reflects market confidence in governments' commitment towards sustainable fiscal policies. Fiscal governance has an impact on the sovereign yield spreads by reducing the probability of default. This has two effects on the sovereign spreads: first, it determines the standard risk premium that compensates for the possibility of default no matter what the extent of risk aversion is. Second, it determines the variance of the payments from the risky bond. The aim of the paper is to analyze impact of fiscal variables on sovereign risk spread in selected EU member states during 1990-2010. Panel regression is used as a basic method of research." . . "1"^^ . . . "RIV/47813059:19520/12:#0002149!RIV13-GA0-19520___" . . "Martin St\u0159\u00ED\u017E Publishing" . "131777" . "10"^^ . "19520" . . . . "Do fiscal variables matter for sovereign risk spread?"@en . "Szarowsk\u00E1, Irena" . . . "P(GAP403/11/2073)" . . "RIV/47813059:19520/12:#0002149" . .