Fiscal Limits and the Pricing of Eurobonds

Pallara, Kevin; Renne, Jean‐Paul

doi:10.2139/ssrn.3891358

SSRN Journal

2021

DOI: 10.2139/ssrn.3891358

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Fiscal Limits and the Pricing of Eurobonds

Kevin Pallara

Jean‐Paul Renne

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2023

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Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures

Hosny

Pallara

2023

EconDisCliCha

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This paper argues that the type of COVID-19 containment measures affects the trade-offs between infection cases, economic activity and sovereign risk. Using local projection methods and a year and a half of high-frequency daily data covering 44 advanced and emerging economies, we find that smart (e.g. testing) as opposed to physical (e.g. lockdown) measures appear to be best placed to tackle these trade-offs. Initial conditions also matter whereby containment measures can be less disruptive when public health response time is fast and public debt is low. We also construct a database of daily fiscal announcements for Euro area countries, and find that sovereign risk is improved under a combination of large support packages and smart measures.

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Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures

Hosny

Pallara

2023

EconDisCliCha

Self Cite

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show abstract

scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.

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Fiscal Limits and the Pricing of Eurobonds

Cited by 1 publication

References 41 publications

Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures

Economic Activity, Fiscal Space and Types of COVID-19 Containment Measures

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