Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 10, 2014 erstellt
Description:
This paper provides an empirical analysis of the macroeconomic determinants of sovereign bond yield spreads in the Eurozone since 2000 until August 2012, when Outright Monetary Transactions program was announced. Results show that there is a reputation effect on each country that affects the relationship between sovereign bond yield spreads and macroeconomic determinants. This reputation effect is larger for those countries that are already experiencing higher spreads