Government bond yields and foreign ownership of debt

Menno Broos and Jakob de Haan

Applied Economics Letters, 2012, vol. 19, issue 5, 435-438

Abstract: We analyse the government bond yield spread vis-à-vis Germany for 10 countries in the euro area for the period 1991 to 2009. Our results suggest a positive relationship between the marginal impact of government debt on the spread and foreign ownership of the government debt of the country concerned for countries currently facing difficulties to finance their deficits. This conditioning effect is absent in other countries in our sample.

Date: 2012
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DOI: 10.1080/13504851.2011.581206

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