scholarly journals Unemployment in Greece: Econometric Evidence after the Athens 2004 Olympics and before the Global Financial Crisis of 2007–2009

2012 ◽  
Vol 2012 ◽  
pp. 1-9
Author(s):  
Stavros Rodokanakis
Keyword(s):  
Financial Crisis ◽  
Economic History ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Labour Force ◽  
Fiscal Stimulus ◽  
Econometric Evidence ◽  
The Global Financial Crisis ◽  
The Impact

This paper investigates the probability of employment in Greece and focuses on 2006, namely, well after the Athens 2004 Olympics and its fiscal stimulus and before the eruption of the global financial crisis of 2007–2009 that transformed into an economic and sovereign debt crisis with unprecedented consequences in the country's postwar economic history. Based on microdata from the Labour Force Survey, the analysis depicts the impact of gender, age, marital status, area of residence, level of education, and immigrant status on finding a job, in Greece as a whole and the two most populated Greek regions, Attica and Central Macedonia. The findings of the logit model show differences in the three areas under examination mainly among the educational variables and area of residence.

On Financial Contagion Through ETFs

2020 ◽  
pp. 82-101
Author(s):  
Alexia Thomaidou ◽  
Dimitris Kenourgios
Keyword(s):  
Financial Crisis ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Financial Contagion ◽  
Sovereign Debt Crisis ◽  
European Sovereign Debt Crisis ◽  
The Interest Rate ◽  
The Global Financial Crisis ◽  
The Impact

This chapter investigates the impact of the Global Financial Crisis and the European Sovereign Debt Crisis in ETFs across regions and segments. In particular, two tests are taking place, with the first one to examine if there is evidence of contagion effect and the second one to test the affection of risks in each pair of ETFs. The evidence across the stable period and the two crisis periods suggests the existence of the transmission of shocks from the Global Financial ETF to regional and sectoral ETFs. However, there is evidence that some of the ETFs remain less unaffected during both crises and some of them are immune. Moreover, the authors examine the impact of several control variables, which represent various risks, to the correlation of each pair of ETFs and the results show the influence of the interest rate risk and interbank liquidity risk during the Global Financial Crisis and the European Sovereign Debt Crisis.

Conclusion

2018 ◽  
Author(s):  
Nauro F. Campos ◽  
Paul De Grauwe ◽  
Yuemei Ji
Keyword(s):  
Financial Crisis ◽  
Business Cycle ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Structural Reform ◽  
Structural Reforms ◽  
Sovereign Debt Crisis ◽  
The Business Cycle ◽  
The Global Financial Crisis

Structural reform policies move like the business cycle. There are moments when these are implemented with great fervour and others when they are put on the back burner or even dismantled. After the global financial crisis, and in particular the sovereign debt crisis in Europe, many countries were forced by creditor countries or were self-imposed to apply deep reforms to their product markets and especially to their labour markets. Now that Europe is recovering, the pressure to implement structural reforms has abated....

scholarly journals NON-PARAMETRIC MULTIPLE CHANGE POINT ANALYSIS OF THE GLOBAL FINANCIAL CRISIS

2018 ◽  
Vol 13 (02) ◽  
pp. 1850008 ◽  
Author(s):  
DAVID E. ALLEN ◽  
MICHAEL McALEER ◽  
ROBERT J. POWELL ◽  
ABHAY K. SINGH
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Parametric Estimation ◽  
Change Points ◽  
Change Point Analysis ◽  
Financial Return ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Non Parametric

This paper presents an application of a recently developed approach by Matteson and James ( 2014 ) for the analysis of change points in a dataset, namely major financial market indices converted to financial return series. The general problem concerns the inference of a change in the distribution of a set of time-ordered variables. The approach involves the non-parametric estimation of both the number of change points and the positions at which they occur. The approach is general and does not involve assumptions about the nature of the distributions involved or the type of change beyond the assumption of the existence of the [Formula: see text] absolute moment, for some [Formula: see text]. The estimation procedure is based on hierarchical clustering and the application of both divisive and agglomerative algorithms. The method is used to evaluate the impact of the Global Financial Crisis (GFC) on the US, French, German, UK, Japanese and Chinese markets, as represented by the S&P500, CAC, DAX, FTSE All Share, Nikkei 225 and Shanghai A share Indices, respectively, from 2003 to 2013. The approach is used to explore the timing and the number of change points in the datasets corresponding to the GFC and subsequent European Debt Crisis.

IMPACT OF EUROZONE SOVEREIGN DEBT CRISIS ON CHINA AND INDIA

2017 ◽  
Vol 62 (05) ◽  
pp. 1137-1164 ◽  
Author(s):  
PAMI DUA ◽  
DIVYA TUTEJA
Keyword(s):  
Financial Markets ◽  
Great Recession ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Eurozone Crisis ◽  
China And India ◽  
Trade And Financial Linkages ◽  
The Global Financial Crisis ◽  
The Impact

This paper analyzes the impact of the Eurozone debt crisis on China and India. Using Markov-switching analysis, we discern regimes in economic growth as well as financial markets and study the impact of the global financial crisis and Eurozone crisis on the same. We identify vulnerability and robustness factors governing the degree of exposure and resilience to the crisis for both these economies. In view of strong trade and financial linkages, the Eurozone crisis may have marred prospects of recovery in the aftermath of the recent Great Recession in both China and India. China, however, is found to be more resilient to the crisis possibly due to stronger macroeconomic fundamentals.

Global Crises and Contagion: Does the Capitalization Size Matter?

2018 ◽  
Vol 64 (1) ◽  
pp. 39-57 ◽  
Author(s):  
Dimitris Kenourgios ◽  
Dimitrios Dimitriou ◽  
Aristeidis Samitas
Keyword(s):  
Financial Crisis ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Conditional Correlation ◽  
Developed Markets ◽  
The Pacific ◽  
Lehman Brothers ◽  
The Global Financial Crisis ◽  
Size Matter

Abstract This paper investigates the spread of the Global Financial Crisis (GFC) and the Eurozone Sovereign Debt Crisis (ESDC) to different market capitalization segments across countries and regions. Specifically, it tests for capitalization-specific contagion across both crises and their phases by examining large, medium and small capitalization indices of G-20 equity markets. The analysis across stable and the two crisis periods shows the existence of a stronger largecap transmission channel for the majority of countries. On the other hand, the contagion dynamics across the phases of the two crises do not provide a clear pattern of a specific cap size-based contagion across all markets. However, there is evidence that the Pacific region and the three cap groups of some individual markets of different regions are less severely affected. Further, all three cap groups of developed markets are mostly affected during the last phase of the ESDC, while emerging and frontier markets show a more diverse pattern of contagion across the phases of both crises. Finally, the Lehman Brothers’ collapse triggers a dramatic increase of the infection rate, while the ESDC seems to be more contagious than the GFC. JEL classifications: F30; G15 Keywords: Capitalization-specific contagion; global financial crisis; Eurozone debt crisis; dynamic conditional correlation; FIAPARCH

7. The global financial crisis and the Eurozone sovereign debt crisis

2016 ◽  
pp. 101-118
Author(s):  
John Goddard ◽  
John O. S. Wilson
Keyword(s):  
Financial Crisis ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Investment Banks ◽  
Sovereign Debt Crisis ◽  
Mortgage Backed Securities ◽  
The Us ◽  
European Banks ◽  
The Global Financial Crisis

‘The global financial crisis and the Eurozone sovereign debt crisis’ describes the chain of events in the US financial crisis that then triggered the Eurozone banking collapse. It outlines the problems in US mortgage-backed securities, the collapse of three of the ‘big five’ investment banks (Bear Stearns, Lehman Brothers, and Merrill Lynch), and the actions of the US Federal Reserve and the Treasury. Several major European banks also foundered at the height of the financial crisis as a consequence of the US crisis and, by the end of 2014, five Eurozone member countries—Ireland, Greece, Spain, Portugal, and Cyprus—had received bailout loans from the EU and International Monetary Fund, conditional on the implementation of tough austerity measures.

Prevention and Resolution of Sovereign Debt Crises

2018 ◽  
Author(s):  
Julianne Ams ◽  
Tamon Asonuma ◽  
Wolfgang Bergthaler ◽  
Chanda DeLong ◽  
Nouria El Mehdi ◽  
...  
Keyword(s):  
Financial Crisis ◽  
Private Sector ◽  
Sovereign Debt ◽  
Global Financial Crisis ◽  
Debt Crisis ◽  
Eurozone Crisis ◽  
Crisis Resolution ◽  
Debt Crises ◽  
The Global Financial Crisis ◽  
Private Sector Involvement

“The IMF’s Role in the Prevention and Resolution of Sovereign Debt Crises” provides a guided narrative to the IMF’s policy papers on sovereign debt produced over the last 40 years. The papers are divided into chapters, tracking four historical phases: the 1980s debt crisis; the Mexican crisis and the design of policies to ensure adequate private sector involvement (“creditor bail-in”); the Argentine crisis and the search for a durable crisis resolution framework; and finally, the global financial crisis, the Eurozone crisis, and their aftermaths.

Sign in / Sign up

Export Citation Format

Share Document