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Izvorni znanstveni članak
https://doi.org/10.1515/zireb-2015-0007

The CDS and the Government Bonds Markets During the Last Financial Crisis

France Križanič ; EIPF Ltd. Economic institute, Ljubljana, Slovenia
Žan Jan Oplotnik ; University of Maribor, Faculty of Economics and Business, Maribor, Slovenia

Puni tekst: engleski, pdf (149 KB) str. 21-30 preuzimanja: 261* citiraj
APA 6th Edition
Križanič, F. i Oplotnik, Ž.J. (2015). The CDS and the Government Bonds Markets During the Last Financial Crisis. Zagreb International Review of Economics & Business, 18 (2), 21-30. https://doi.org/10.1515/zireb-2015-0007
MLA 8th Edition
Križanič, France i Žan Jan Oplotnik. "The CDS and the Government Bonds Markets During the Last Financial Crisis." Zagreb International Review of Economics & Business, vol. 18, br. 2, 2015, str. 21-30. https://doi.org/10.1515/zireb-2015-0007. Citirano 02.04.2020.
Chicago 17th Edition
Križanič, France i Žan Jan Oplotnik. "The CDS and the Government Bonds Markets During the Last Financial Crisis." Zagreb International Review of Economics & Business 18, br. 2 (2015): 21-30. https://doi.org/10.1515/zireb-2015-0007
Harvard
Križanič, F., i Oplotnik, Ž.J. (2015). 'The CDS and the Government Bonds Markets During the Last Financial Crisis', Zagreb International Review of Economics & Business, 18(2), str. 21-30. https://doi.org/10.1515/zireb-2015-0007
Vancouver
Križanič F, Oplotnik ŽJ. The CDS and the Government Bonds Markets During the Last Financial Crisis. Zagreb International Review of Economics & Business [Internet]. 2015 [pristupljeno 02.04.2020.];18(2):21-30. https://doi.org/10.1515/zireb-2015-0007
IEEE
F. Križanič i Ž.J. Oplotnik, "The CDS and the Government Bonds Markets During the Last Financial Crisis", Zagreb International Review of Economics & Business, vol.18, br. 2, str. 21-30, 2015. [Online]. https://doi.org/10.1515/zireb-2015-0007

Sažetak
Financial market had developed a special instrument to insure the buyers of bonds. This instrument is so called Credit Default Swap (CDS). The CDS price is a kind of insurance premium that the buyer of CDS pays to the seller of CDS in exchange for compensation of possible loss in operation. Paper analyses causality between CDS price and dynamics of bond yields and influence of macroeconomic factors on it in four selected countries during the last financial crisis. Analysis results show that there is no important macroeconomic variable included in the analysis that preceded the CDS prices connected with German government bonds. Sellers of CDS were apparently aware of the systemic nature of the financial crisis in the euro area. In the case of the United Kingdom, Russia and Slovenia we can observe the unemployment rate as the most important macroeconomic variable that preceded the CDS prices for government bonds.

Ključne riječi
Bonds; Yield; CDS; International financial markets; Macroeconomics

Hrčak ID: 148331

URI
https://hrcak.srce.hr/148331

Posjeta: 446 *