Bookcover of Default Risk of Greek Government during the Crisis of 2010
Booktitle:

Default Risk of Greek Government during the Crisis of 2010

Greek fiscal crisis from 1970s until April 2011

LAP LAMBERT Academic Publishing (2012-11-10 )

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ISBN-13:

978-3-659-29400-6

ISBN-10:
3659294004
EAN:
9783659294006
Book language:
English
Blurb/Shorttext:
The book analyses Greek fiscal crisis which was “discovered” by markets at the end of 2009. The book is divided into two parts. In the historically-analytical part we show the evolution of the Greek fiscal crisis from its foundations in 1970s until April 2011, when the work was finished. We try to find the true roots of the crisis and we also summarize its political evolution. In the theoretical part the evolution of the probability of default of Greek government is estimated using parsimonious method using government bond market data. A method using data from the market of credit default swaps is also summarized. The work tests several hypotheses. The book mainly shows that the crisis should not have been such a surprise and that markets were probably short sighted. We also show that European aid package introduced in the spring 2010 did not calm the markets. At the end of the book we show further possible research ideas.
Publishing house:
LAP LAMBERT Academic Publishing
Website:
https://www.lap-publishing.com/
By (author) :
Oldřich Veselý
Number of pages:
108
Published on:
2012-11-10
Stock:
Available
Category:
National economy
Price:
49.00 €
Keywords:
European Union, Greece, CDS, fiscal policy, Bonds, Eurozone, Fiscal Crisis, Default Risk

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