Determinants of sub-sovereign bond yield spreads: the role of fiscal fundamentals and federal bailout expectations

Roland Beck, Gianluigi Ferrucci, Arno Hantzsche and Matthias Rau-Goehring

No 1987, Working Paper Series from European Central Bank

Abstract: This paper investigates to what extent yield spreads on bonds issued by sub-sovereign entities within federations are driven by bailout expectations and investors JEL Classification: E62, G12, H7

Keywords: fiscal federalism; government debt; sovereign bond spreads; sub-national governments (search for similar items in EconPapers)
Date: 2016-12
New Economics Papers: this item is included in nep-opm
Note: 597822
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Citations: View citations in EconPapers (4)

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Related works:
Journal Article: Determinants of sub-sovereign bond yield spreads – The role of fiscal fundamentals and federal bailout expectations (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:20161987

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