Details
| Translated title of the contribution | Die griechische Staatsschuldenkrise als wichtiges Kapitel in der Geschichte der Europäischen Währungsunion: empirische Belege und einige Überlegungen zu den Auswirkungen für Anleger und Risikomanager im Finanzsektor |
|---|---|
| Original language | English |
| Pages (from-to) | 361-378 |
| Number of pages | 18 |
| Journal | Zeitschrift fur die gesamte Versicherungswissenschaft |
| Volume | 111 |
| Issue number | 3 |
| Early online date | 5 Sept 2022 |
| Publication status | Published - Oct 2022 |
Abstract
After the burst of the US real estate price bubble in 2008, the events in Greece played, at least for some time, a unique role on the path towards the European sovereign debt crisis. We examine this issue empirically and then discuss some relevant questions for policymakers, regulators, fixed income investors, and financial risk managers. Our findings should be of interest when modeling risk premia determined in the market for sovereign bonds issued by countries that have introduced the Euro. Given the exposure of the European insurance industry to these fixed-income securities, the results are important for asset managers and financial risk managers that are working in this segment of the financial services industry.
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Accounting
- Economics, Econometrics and Finance(all)
- Finance
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
Cite this
- Standard
- Harvard
- Apa
- Vancouver
- BibTeX
- RIS
In: Zeitschrift fur die gesamte Versicherungswissenschaft, Vol. 111, No. 3, 10.2022, p. 361-378.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - The Greek sovereign debt crisis as an important chapter in the history of the European Monetary Union
T2 - empirical evidence and some thoughts on implications for investors and financial risk managers
AU - Tholl, Johannes
AU - Schwarzbach, Christoph
PY - 2022/10
Y1 - 2022/10
N2 - After the burst of the US real estate price bubble in 2008, the events in Greece played, at least for some time, a unique role on the path towards the European sovereign debt crisis. We examine this issue empirically and then discuss some relevant questions for policymakers, regulators, fixed income investors, and financial risk managers. Our findings should be of interest when modeling risk premia determined in the market for sovereign bonds issued by countries that have introduced the Euro. Given the exposure of the European insurance industry to these fixed-income securities, the results are important for asset managers and financial risk managers that are working in this segment of the financial services industry.
AB - After the burst of the US real estate price bubble in 2008, the events in Greece played, at least for some time, a unique role on the path towards the European sovereign debt crisis. We examine this issue empirically and then discuss some relevant questions for policymakers, regulators, fixed income investors, and financial risk managers. Our findings should be of interest when modeling risk premia determined in the market for sovereign bonds issued by countries that have introduced the Euro. Given the exposure of the European insurance industry to these fixed-income securities, the results are important for asset managers and financial risk managers that are working in this segment of the financial services industry.
KW - E43
KW - European sovereign debt crisis
KW - G15
KW - Government bonds
KW - Greece
KW - H63
KW - Risk premia
UR - http://www.scopus.com/inward/record.url?scp=85137462760&partnerID=8YFLogxK
U2 - 10.1007/s12297-022-00529-0
DO - 10.1007/s12297-022-00529-0
M3 - Article
AN - SCOPUS:85137462760
VL - 111
SP - 361
EP - 378
JO - Zeitschrift fur die gesamte Versicherungswissenschaft
JF - Zeitschrift fur die gesamte Versicherungswissenschaft
SN - 0044-2585
IS - 3
ER -