How Long to Read Sub-National Credit Risk and Sovereign Bailouts

How Long Does it Take to Read Sub-National Credit Risk and Sovereign Bailouts?

It takes the average reader and 30 minutes to read Sub-National Credit Risk and Sovereign Bailouts by Ms.Eva Jenkner

Assuming a reading speed of 250 words per minute. Learn more

Description

Studies have shown that markets may underprice sub-national governments’ risk on the implicit assumption that these entities would be bailed out by their central government in case of financial difficulties. However, the question of whether sovereigns pay a premium on their own borrowing as a result of (implicitly or explicitly) guaranteeing sub-entities’ debt has been explored only little. We use an event study approach with separate equations for two levels of government to test for a simultaneous increase in sovereign risk premia and decrease in sub-national risk premia—or a de facto transfer of risk from the latter to the former—on the day a sovereign bailout is announced. Using daily financial market data for Spain and its autonomous regions from January 2010 to June 2013, we find support for our risk transfer hypothesis. We estimate that the Spanish sovereign’s spread may have increased by around 70 basis points as a result of the central government’s support for fiscally distressed comunidades autónomas.

How long is Sub-National Credit Risk and Sovereign Bailouts?

Sub-National Credit Risk and Sovereign Bailouts by Ms.Eva Jenkner is 29 pages long, and a total of 7,511 words.

This makes it 10% the length of the average book. It also has 9% more words than the average book.

How Long Does it Take to Read Sub-National Credit Risk and Sovereign Bailouts Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 41 minutes to read Sub-National Credit Risk and Sovereign Bailouts aloud.

What Reading Level is Sub-National Credit Risk and Sovereign Bailouts?

Sub-National Credit Risk and Sovereign Bailouts is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Sub-National Credit Risk and Sovereign Bailouts?

Sub-National Credit Risk and Sovereign Bailouts by Ms.Eva Jenkner is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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