Are European sovereign bond spreads in concordance with macroeconomic variables evolution?

Autores
Sorrosal Forradellas, M. Teresa; Martinez, Lisana Belén; Terceno, Antonio
Año de publicación
2017
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
Purpose: The last great financial crisis which arose in the middle of 2007 in the USA produced contagion effects over others economies. The purpose of this paper is focused on analyzing the evolution of a set of economic variables of 17 European countries since 1991 until 2013. Sovereign bond spreads are also considered to compare the incidence of the financial crisis over the economies considering macroeconomics fundamentals and fixed bonds. Design/methodology/approach: Self-organizing maps (SOMs) are used to achieve the purpose of the research. With this methodology, it is possible to analyze the evolution of the macroeconomic fundamentals of each country, obtaining particular and general conclusions according to the position of each country in the SOM. Moreover, the countries are compared between them and with its respective sovereign bond spreads level for each year of analysis. Findings: The impact of the crisis is different between the countries was analyzed. Belonging to the European Monetary Union is an interesting characteristic of some of the most affect economies. Research limitations/implications: This research presents wide implications for the economies to control the most vulnerable economic variables in front of financial crisis to prevent the contagion effect. The inclusion of more economic variables and countries could enhance the study. Originality/value: This research analyzes the relationship between macroeconomic variables and sovereign bond spreads using an infrequent methodology. The results obtained are valuable because they highlight how the present crisis has differently affected the European countries.
Fil: Sorrosal Forradellas, M. Teresa. Universitat Rovira I Virgili; España
Fil: Martinez, Lisana Belén. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina. Universidad Nacional del Sur; Argentina
Fil: Terceno, Antonio. Universitat Rovira I Virgili; España
Materia
Economic Variables
Financial Crisis
Self-Organizing Maps
Sovereign Bond Spreads
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/52309
Acceder
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network_acronym_str CONICETDig
repository_id_str 3498
network_name_str CONICET Digital (CONICET)
spelling Are European sovereign bond spreads in concordance with macroeconomic variables evolution?Sorrosal Forradellas, M. TeresaMartinez, Lisana BelénTerceno, AntonioEconomic VariablesFinancial CrisisSelf-Organizing MapsSovereign Bond Spreadshttps://purl.org/becyt/ford/5.2https://purl.org/becyt/ford/5Purpose: The last great financial crisis which arose in the middle of 2007 in the USA produced contagion effects over others economies. The purpose of this paper is focused on analyzing the evolution of a set of economic variables of 17 European countries since 1991 until 2013. Sovereign bond spreads are also considered to compare the incidence of the financial crisis over the economies considering macroeconomics fundamentals and fixed bonds. Design/methodology/approach: Self-organizing maps (SOMs) are used to achieve the purpose of the research. With this methodology, it is possible to analyze the evolution of the macroeconomic fundamentals of each country, obtaining particular and general conclusions according to the position of each country in the SOM. Moreover, the countries are compared between them and with its respective sovereign bond spreads level for each year of analysis. Findings: The impact of the crisis is different between the countries was analyzed. Belonging to the European Monetary Union is an interesting characteristic of some of the most affect economies. Research limitations/implications: This research presents wide implications for the economies to control the most vulnerable economic variables in front of financial crisis to prevent the contagion effect. The inclusion of more economic variables and countries could enhance the study. Originality/value: This research analyzes the relationship between macroeconomic variables and sovereign bond spreads using an infrequent methodology. The results obtained are valuable because they highlight how the present crisis has differently affected the European countries.Fil: Sorrosal Forradellas, M. Teresa. Universitat Rovira I Virgili; EspañaFil: Martinez, Lisana Belén. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina. Universidad Nacional del Sur; ArgentinaFil: Terceno, Antonio. Universitat Rovira I Virgili; EspañaEmerald2017-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/52309Sorrosal Forradellas, M. Teresa; Martinez, Lisana Belén; Terceno, Antonio; Are European sovereign bond spreads in concordance with macroeconomic variables evolution?; Emerald; Kybernetes; 46; 1; 1-2017; 85-1010368-492XCONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/doi/10.1108/K-06-2016-0121info:eu-repo/semantics/altIdentifier/url/https://www.emeraldinsight.com/doi/abs/10.1108/K-06-2016-0121info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-10T13:08:27Zoai:ri.conicet.gov.ar:11336/52309instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-10 13:08:27.541CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
title Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
spellingShingle Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
Sorrosal Forradellas, M. Teresa
Economic Variables
Financial Crisis
Self-Organizing Maps
Sovereign Bond Spreads
title_short Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
title_full Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
title_fullStr Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
title_full_unstemmed Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
title_sort Are European sovereign bond spreads in concordance with macroeconomic variables evolution?
dc.creator.none.fl_str_mv Sorrosal Forradellas, M. Teresa
Martinez, Lisana Belén
Terceno, Antonio
author Sorrosal Forradellas, M. Teresa
author_facet Sorrosal Forradellas, M. Teresa
Martinez, Lisana Belén
Terceno, Antonio
author_role author
author2 Martinez, Lisana Belén
Terceno, Antonio
author2_role author
author
dc.subject.none.fl_str_mv Economic Variables
Financial Crisis
Self-Organizing Maps
Sovereign Bond Spreads
topic Economic Variables
Financial Crisis
Self-Organizing Maps
Sovereign Bond Spreads
purl_subject.fl_str_mv https://purl.org/becyt/ford/5.2
https://purl.org/becyt/ford/5
dc.description.none.fl_txt_mv Purpose: The last great financial crisis which arose in the middle of 2007 in the USA produced contagion effects over others economies. The purpose of this paper is focused on analyzing the evolution of a set of economic variables of 17 European countries since 1991 until 2013. Sovereign bond spreads are also considered to compare the incidence of the financial crisis over the economies considering macroeconomics fundamentals and fixed bonds. Design/methodology/approach: Self-organizing maps (SOMs) are used to achieve the purpose of the research. With this methodology, it is possible to analyze the evolution of the macroeconomic fundamentals of each country, obtaining particular and general conclusions according to the position of each country in the SOM. Moreover, the countries are compared between them and with its respective sovereign bond spreads level for each year of analysis. Findings: The impact of the crisis is different between the countries was analyzed. Belonging to the European Monetary Union is an interesting characteristic of some of the most affect economies. Research limitations/implications: This research presents wide implications for the economies to control the most vulnerable economic variables in front of financial crisis to prevent the contagion effect. The inclusion of more economic variables and countries could enhance the study. Originality/value: This research analyzes the relationship between macroeconomic variables and sovereign bond spreads using an infrequent methodology. The results obtained are valuable because they highlight how the present crisis has differently affected the European countries.
Fil: Sorrosal Forradellas, M. Teresa. Universitat Rovira I Virgili; España
Fil: Martinez, Lisana Belén. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - Bahía Blanca. Instituto de Investigaciones Económicas y Sociales del Sur. Universidad Nacional del Sur. Departamento de Economía. Instituto de Investigaciones Económicas y Sociales del Sur; Argentina. Universidad Nacional del Sur; Argentina
Fil: Terceno, Antonio. Universitat Rovira I Virgili; España
description Purpose: The last great financial crisis which arose in the middle of 2007 in the USA produced contagion effects over others economies. The purpose of this paper is focused on analyzing the evolution of a set of economic variables of 17 European countries since 1991 until 2013. Sovereign bond spreads are also considered to compare the incidence of the financial crisis over the economies considering macroeconomics fundamentals and fixed bonds. Design/methodology/approach: Self-organizing maps (SOMs) are used to achieve the purpose of the research. With this methodology, it is possible to analyze the evolution of the macroeconomic fundamentals of each country, obtaining particular and general conclusions according to the position of each country in the SOM. Moreover, the countries are compared between them and with its respective sovereign bond spreads level for each year of analysis. Findings: The impact of the crisis is different between the countries was analyzed. Belonging to the European Monetary Union is an interesting characteristic of some of the most affect economies. Research limitations/implications: This research presents wide implications for the economies to control the most vulnerable economic variables in front of financial crisis to prevent the contagion effect. The inclusion of more economic variables and countries could enhance the study. Originality/value: This research analyzes the relationship between macroeconomic variables and sovereign bond spreads using an infrequent methodology. The results obtained are valuable because they highlight how the present crisis has differently affected the European countries.
publishDate 2017
dc.date.none.fl_str_mv 2017-01
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/52309
Sorrosal Forradellas, M. Teresa; Martinez, Lisana Belén; Terceno, Antonio; Are European sovereign bond spreads in concordance with macroeconomic variables evolution?; Emerald; Kybernetes; 46; 1; 1-2017; 85-101
0368-492X
CONICET Digital
CONICET
url http://hdl.handle.net/11336/52309
identifier_str_mv Sorrosal Forradellas, M. Teresa; Martinez, Lisana Belén; Terceno, Antonio; Are European sovereign bond spreads in concordance with macroeconomic variables evolution?; Emerald; Kybernetes; 46; 1; 1-2017; 85-101
0368-492X
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/doi/10.1108/K-06-2016-0121
info:eu-repo/semantics/altIdentifier/url/https://www.emeraldinsight.com/doi/abs/10.1108/K-06-2016-0121
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Emerald
publisher.none.fl_str_mv Emerald
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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score 12.993085

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