Arbeitspapier
The 2012 Greek retrofit and borrowing costs in the European periphery
This article examines the impact of Greece retroactively, via legislation, changing the terms in hundreds of billions of euros worth of Greek government bonds governed by domestic Greek law. As the abrogation of gold clauses in US government bonds by the US Congress in 1933 had been, the Greek action was decried as violative of the rule of law and sure to negatively impact the future ability of Euro area sovereigns to borrow. We test whether the Greek action had negative spillovers on European government debt markets. We find no evidence of increased borrowing for even the most peripheral European economies from the Greek action.
- Language
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Englisch
- Bibliographic citation
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Series: Graduate Institute of International and Development Studies Working Paper ; No. HEIDWP13-2023
- Classification
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Wirtschaft
- Event
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Geistige Schöpfung
- (who)
-
Gulati, Mitu
Bolton, Patrick
Panizza, Ugo
Fu, Xuewen
- Event
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Veröffentlichung
- (who)
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Graduate Institute of International and Development Studies
- (where)
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Geneva
- (when)
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2023
- Handle
- Last update
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10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Gulati, Mitu
- Bolton, Patrick
- Panizza, Ugo
- Fu, Xuewen
- Graduate Institute of International and Development Studies
Time of origin
- 2023
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