ECB has further scope to support spending

2021 ◽  
Keyword(s):  
The Netherlands ◽  
Investor Sentiment ◽  
Bond Yields ◽  
Content Type ◽  
Debt Market ◽  
Fiscal Risks

Significance The unprecedented volume of ECB bond purchases, and the liquidity of the secondary debt market, have supported economies through the COVID-19 pandemic. Concerns persist that investor sentiment could reverse, raising bond yields, or that stuttering recoveries could increase fiscal risks. Impacts Investors and policymakers will monitor bond yields, which remain ultra-low but are edging up; higher yields could spark policy easing. Higher rates would most restrict the borrowing of the most highly indebted governments -- Greece, Italy, Portugal, Spain and France. Even the budgets of less indebted members, Germany, the Netherlands and Austria, will worsen as they are now being hit hard by COVID-19.

Shifts elsewhere could build up Polish policy doubts

2016 ◽  
Keyword(s):  
Oil Prices ◽  
Bond Yields ◽  
Content Type ◽  
Rating Agencies ◽  
New Information ◽  
Inflation Rates ◽  
Debt Market ◽  
Low Levels ◽  
One Year ◽  
Nationalist Government

Significance Poland's rating, therefore, remains at A2, despite persistent concerns about the policies of its one-year-old nationalist government, in particular, the threats to the independence of the country's institutions. Impacts Central Europe's inflation rates are at unprecedentedly low levels, with Poland and Hungary still experiencing deflation. Central bank action will be key, particularly the ECB, which disappointed markets on September 8 by downplaying the need for more stimulus. This is despite oil prices rising sharply since mid-January, with Brent crude nearly 70% up to just over 47 dollars per barrel. Investors' 'reach for yield' amid negative bond yields across Europe and Japan will fuel concerns about an EM debt market 'bubble'. Rating agencies' assessments of sovereign creditworthiness are being disregarded as backward-looking and revealing little new information.

Asset liability management and the euro crisis

2017 ◽  
Vol 18 (4) ◽  
pp. 466-483 ◽  
Author(s):  
Miguel Rodriguez Gonzalez ◽  
Frederik Kunze ◽  
Christoph Schwarzbach ◽  
Christoph Dieng
Keyword(s):  
The Netherlands ◽  
Unit Root ◽  
Structural Changes ◽  
Government Bond ◽  
Euro Crisis ◽  
Bond Yields ◽  
Content Type ◽  
Risk Managers ◽  
Asset Managers

Purpose This paper aims to investigate the long-term relationships of long-term European Monetary Union (EMU) government bond yields. From an asset managers’ or risk managers’ perspective during the euro crisis, the relevance of sovereign credit and redenomination risk became a major issue. Furthermore, it has to be differentiated between core and non-core EMU member countries. Design/methodology/approach Methods of applied time series analysis are used to investigate EMU government bond yields and EMU government bond yield spreads for Spain, Italy, The Netherlands, Austria and Germany. Both standard unit root testing procedures and breakpoint unit root tests are used to examine cointegrating relationships and structural changes in these relationships. Findings The empirical results deliver clear evidence for structural shifts in the long-term relationship between German and the two non-core EMU countries (Italy and Spain). The timing of the breaks coincides with the timing of the euro crisis. On the contrary, the results for Austria and The Netherlands are different from the findings for the two non-core countries. Research limitations/implications One major limitation of the study is the limited availability of data regarding to the reaction of asset managers or risk managers to the euro crisis. Especially in the context of the discussion with regard to the relevant risk-free rate for investors, this strand of research is relatively new. Practical implications A deeper understanding of changes in the long-term relationship between government bond yields and the re-emergence of redenomination risk is important for asset managers and risk managers in the financial services industry. This is especially true for German life insurers. Originality/value The study provides various empirical contributions to the literature on the euro crisis and sovereign credit risk. First, previous results with regard to the structural changes in the long-term relationship between German and Spanish, German and Italian, German and Austrian as well as Germany and Dutch government bond yields are confirmed using unit root breakpoint tests. Second, investigating the autoregressive coefficient and the timing of the breaks delivers evidence that non-core countries have been more exposed to the fear of redenomination risk. Third, we raise the question which risk free interest rate is relevant for the affected countries.

Hungary will be at risk from too-loose monetary policy

2018 ◽  
Keyword(s):  
Monetary Policy ◽  
Investor Sentiment ◽  
Financial Contagion ◽  
Bond Yields ◽  
2008 Financial Crisis ◽  
Content Type ◽  
Central Eastern Europe ◽  
The Past ◽  
Current Account Deficits ◽  
The 2008 Financial Crisis

Subject Central Europe’s resilience to EM sell-off. Significance Central Europe’s economies have withstood intense recent selling pressure in emerging markets (EM), the longest sell-off since the 2008 financial crisis. A confluence of idiosyncratic and generic vulnerabilities has significantly undermined investor sentiment towards EM assets as a whole over the past several months. Yet the Polish zloty, one of the most liquid EM currencies, has risen by 2.6% against the dollar since end-May, and Hungary’s ten-year local bond yields are still significantly below their levels in the aftermath of the ‘taper tantrum’ in May 2013. Impacts Despite the 27% decline in Turkish equities since end-June, negligible trade links with Central Europe will limit financial contagion. In Central-Eastern Europe, Romania will be vulnerable because of its wide fiscal and current account deficits. Ten-year US Treasury yields are trading above 3%, increasing the risk of a sell-off in global debt markets if yields rise more sharply.

scholarly journals Light a lamp and look at the stock market

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Radeef Chundakkadan
Keyword(s):  
Stock Market ◽  
Financial Distress ◽  
Investor Sentiment ◽  
Downside Risk ◽  
Bond Yields ◽  
Risky Assets ◽  
Market Participants ◽  
Market Return ◽  
The Impact

AbstractIn this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day.

Professionals freaking out: the case of accreditation in Dutch higher education

2009 ◽  
Vol 21 (5) ◽  
pp. 473-485 ◽  
Author(s):  
Everard van Kemenade ◽  
Teun W. Hardjono
Keyword(s):  
The Netherlands ◽  
Design Methodology ◽  
Iso 9000 ◽  
Preliminary Survey ◽  
External Evaluation ◽  
Content Type ◽  
Evaluation Systems ◽  
System A ◽  
Engineering And Technology ◽  
Insight Into

PurposeThe purpose of this paper is to define what factors cause willingness and/or resistance among lecturers in universities towards external evaluation systems, especially accreditation.Design/methodology/approachA model has been designed to describe possible factors of willingness and/or resistance towards accreditation based on Ajzen and Metselaar. A literature review has been undertaken on the effects of external evaluation like ISO 9000 as well as accreditation systems such as Accreditation Board for Engineering and Technology and European Quality Improvement System. A questionnaire has been administered to a group of 63 lecturers from three departments at Fontys University in The Netherlands. The results of this preliminary survey have been presented to 1,500 academics in The Netherlands and Flanders to collect empirical data.FindingsResistance to accreditation can be found in the consequences of accreditation for the work of the lecturer (workload), negative emotions (stress and insecurity); the lack of knowledge and experience (help from specialists is needed); and lack of acceptance (other paradigm).Originality/valueThe paper provides more insight into the difficulties that organizations, especially universities, have to commit their employees to external evaluation. It might be possible to generalize the findings to other professionals in other organizations. Little research in this field has been undertaken so far.

Markets are overreacting to US price and rates risks

2021 ◽  
Keyword(s):  
Federal Reserve ◽  
Futures Markets ◽  
The United States ◽  
Oil Price ◽  
Bond Markets ◽  
Crude Oil Price ◽  
Bond Yields ◽  
Content Type ◽  
Bond Yield ◽  
Ongoing Support

Significance The continuation of the modest manufacturing downturn follows the recent report of slower third-quarter GDP growth. Despite slower growth, bond markets are challenging an attempt by the Federal Reserve (Fed) to delink tapering from tightening by bringing forward their forecasts for rate increases: futures markets are pricing in two 25-basis-point rate hikes by end-2022. Impacts Equities are at a record high in the United States; providing ongoing support for this, real US bond yields remain in negative territory. The Brent crude oil price is near its highest since 2014; further upside will be limited but it is likely to stay high well into 2022. Germany’s ten-year bond yield, negative since April 2019, has risen by 40 basis points since end-August and will soon turn positive.

God’s Marketeer

2021 ◽  
Vol 30 (2) ◽  
Author(s):  
Jan Martijn Abrahamse
Keyword(s):  
The Netherlands ◽  
Large Scale ◽  
Social Groups ◽  
Press Coverage ◽  
Significant Shift ◽  
Dutch Society ◽  
Content Type ◽  
Billy Graham ◽  
The Way ◽  
Newspaper Articles

Summary This article deals with the reception of Billy Graham and modern evangelicalism in the fragmented society of the Netherlands in 1954. It takes its departure from the stream of newspaper articles published between February and June in response to the Greater London Crusade and Graham’s first large scale rally in Amsterdam’s Olympic Stadium. The analysis of the reports in different newspapers, which represent the different social groups (catholic, protestant, socialist and liberal) in Dutch society, reveals a significant shift in the way Billy Graham was perceived: from initial scepticism to mild appreciation. This change in press coverage, it is concluded, is mainly due to the different way in which Billy Graham presented himself compared with the large-scale publicity which surrounded his campaign.

The Relevance of Neo-Calvinism for Church and Theology

2021 ◽  
Vol 30 (2) ◽  
Author(s):  
Cornelis Kooi
Keyword(s):  
United States ◽  
The Netherlands ◽  
The United States ◽  
Content Type ◽  
Six Elements

Summary Neo-Calvinism is increasingly popular in the United States, but far less so in the Netherlands where it originated. Written from the context of the Free University (Vrije Universiteit) founded by Abraham Kuyper, this article presents six elements of Neo-Calvinism which together establish it as an important and relevant worldview for our time. The first is that it attempts to create a ‘priestly’ connection between gospel and culture. Next there are Neo-Calvinism’s notion of the sovereignty of God, its conviction that humans are elected to something, and its belief that this world – even in its fallen state – is and remains God’s world. The last two elements are the trinitarian spread of its theology and the fact that it exercises the Christian virtues of faith, hope and love.

Addressing food loss and waste prevention

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Burcu Kör ◽  
Adriana Krawczyk ◽  
Ingrid Wakkee
Keyword(s):  
The Netherlands ◽  
Food Waste ◽  
Household Consumption ◽  
Resource Scarcity ◽  
Advanced Technology ◽  
Waste Prevention ◽  
Structured Interviews ◽  
Content Type ◽  
Food Loss

PurposeFood waste is one of the most challenging issues humanity is currently facing. Therefore, there has been a growing interest in the prevention of food waste because of world hunger, environmental impacts, resource scarcity and economic costs. The purpose of the study is to investigate the factors that influence food waste and the role of technology in tackling food waste in India and the Netherlands.Design/methodology/approachIn order to explore differences in food loss and waste further this study will examine a number of practices on both the production and the consumer side, in a developing country and a developed country with different culture/economic backgrounds: India and the Netherlands. The factors that influence food waste were examined with a preliminary qualitative study, which consists of semi-structured interviews, and quantitative research that comprises a survey. Semi-structured interviews were conducted in both India and the Netherlands, which consists of five interviews. The survey data was collected from 78 individuals from India and 115 individuals from the Netherlands.FindingsOne of the main findings of the research is food waste is divided into waste within agricultural production (i.e. food loss) and final household consumption (i.e. food waste). Different factors influence food loss in different stages in the supply chain. Some of these factors include wastage during processing, storage, transportation and at the market-place. New technologies can utilize food loss for new purposes, so food loss is reduced to the minimum. Food waste is mainly influenced by food passing expiry date, food that is left too long in the fridge and consumers buying too much food. In final household consumption, technologies such as digital platforms enable individuals or organizations to share and donate their food, thereby creating awareness on food waste prevention and the environmental and ethical benefits.Originality/valueThe authors examine to what extent and in which ways supporting consumers to minimize food waste can be achieved via three stages: (1) understanding and evaluating food loss and waste, (2) identifying the factors that influence food loss and waste, (3) understanding consumer behaviors to encourage food waste reduction and (4) identifying the technological impact that would reduce food waste. As such, this paper contributes to ongoing debates about food waste by looking at the role of context and culture and by exploring differences between developed and developing countries. Also, the authors advance the debate by exploring both the role of advanced technology such as blockchain and drones in both preventing loss and waste as well as non-technological mechanisms.

‘Behoed ons arme volk voor de vulkaan-poëten’

2020 ◽  
Vol 4 (3) ◽  
pp. 382-422
Author(s):  
Judith Bosnak ◽  
Rick Honings
Keyword(s):  
The Netherlands ◽  
The Other ◽  
Literary Studies ◽  
Poor People ◽  
Content Type ◽  
East Indies ◽  
Dutch East Indies ◽  
Literary Reception

Abstract ‘Save our poor people from the vulcano poets’. The literary reception of the Krakatoa disaster of 1883 in the Netherlands and Indonesi On August 27, 1883, the volcano Krakatau in the Dutch East Indies erupted and collapsed, causing the deaths of tens of thousands, mainly as a result of devastating tsunamis. The Krakatau eruption was one of the first disasters to take place beyond the Dutch boundaries that received so much attention in the Netherlands. Because the Indies were a Dutch colony, a response of the motherland was rather logical. In many places, charity activities were organized to raise money for the victims. This article focuses on the Dutch and Indonesian literary reactions on the Krakatau disaster. For this purpose, two scholars work together: one specialized in Dutch Literary Studies and the other one in Indonesian Languages and Cultures. In the first part of the article several Dutch charity publications are analysed; the second part focuses on Indonesian sources (in Javanese and Malay). How and to what extend did the reactions in the Netherlands and Indonesia differ?

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