Pentecost_Revised Safe haven paper for Applied Economics-1.pdf (282.96 kB)
Safe haven or contagion? The disparate effects of Euro-zone crises on non-Euro-zone neighbours
journal contribution
posted on 2017-10-27, 13:23 authored by Graham Bird, Wenti Du, Eric PentecostEric Pentecost, Thomas WillettWhile there have been many studies that examine contagion within the Euro-zone, this paper investigates the potential contagion from changes in the Greek sovereign risk premium over 2009-2016, as measured by the yield on 10 year government bonds, to six European countries outside of the Euro-zone all of which operated a managed float against the Euro. We find evidence of contagion to potential Euro-zone ascendants (Czech Republic, Hungary and Poland), but ‘flight to safety’ (or safe haven) effects for the United Kingdom, Sweden and Switzerland.
History
School
- Business and Economics
Department
- Economics
Published in
Applied EconomicsVolume
49Issue
59Pages
5895 - 5904Citation
BIRD, G. ...et al., 2017. Safe haven or contagion? The disparate effects of Euro-zone crises on non-Euro-zone neighbours. Applied Economics, 49(59), pp. 5895-5904.Publisher
© Taylor & FrancisVersion
- AM (Accepted Manuscript)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Acceptance date
2017-08-01Publication date
2017-08-24Copyright date
2017Notes
This is an original manuscript of an article published by Taylor & Francis in Applied Economics, on 24 Aug 2017 available online: https://doi.org/10.1080/00036846.2017.1358445ISSN
0003-6846eISSN
1466-4283Publisher version
Language
- en