{"id":629,"date":"2015-04-01T13:00:47","date_gmt":"2015-04-01T12:00:47","guid":{"rendered":"http:\/\/mathfinance.sns.it\/new_site\/?p=629"},"modified":"2015-07-17T13:48:46","modified_gmt":"2015-07-17T12:48:46","slug":"tommaso-colozza-supply-of-public-debt-and-demand-for-risk-premia-a-minskian-approach-to-credit-risk","status":"publish","type":"post","link":"http:\/\/mathfinance.sns.it\/index.php\/tommaso-colozza-supply-of-public-debt-and-demand-for-risk-premia-a-minskian-approach-to-credit-risk\/","title":{"rendered":"Tommaso Colozza, \u201cSupply of public debt and demand for risk  premia: a Minskian approach to credit risk\u201d"},"content":{"rendered":"<p style=\"text-align: center;\"><span lang=\"IT\">Wednesday\u00a0April 1<span style=\"font-size: 12px; line-height: 0px;\">\u00a0<\/span>\u00a02015<\/span><br \/>\n13.00<br \/>\nScuola Normale Superiore<br \/>\nAula\u00a0Mancini<\/p>\n<p style=\"text-align: center;\"><b>Tommaso Colozza<br \/>\n<\/b>Dipartimento di Statistica e Matematica Applicata all&#8217;Economia &#8211;\u00a0Universit\u00e0 di Pisa<\/p>\n<p style=\"text-align: center;\" align=\"center\"><strong><span lang=\"EN-GB\">Abstract<br \/>\n<\/span><\/strong>Financial stability of EMU countries is managed by policy makers through several key macroeconomic indicators; the market instead monitors creditworthiness with credit risk premia embedded in sovereign yields. A demand-supply approach solves this duality: in a Minskian framework, positive inelastic shifts in debt-to-GDP ratio due to widespread macro-financial distress may lower risk appetites of lenders and increase risk premia, up to default. Time-variating risk appetites justify statistical relevance of debt-to-gdp variation on yields levels; if conveniently decomposed, debt velocity allows also to imply a default probability measure comparable to standard CDS-implied measures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wednesday\u00a0April 1\u00a0\u00a02015 13.00 Scuola Normale Superiore Aula\u00a0Mancini Tommaso Colozza Dipartimento di Statistica e Matematica Applicata all&#8217;Economia &#8211;\u00a0Universit\u00e0 di Pisa Abstract Financial stability of EMU countries is managed by policy makers through several key macroeconomic indicators; the market instead monitors creditworthiness with credit risk premia embedded in sovereign yields. A demand-supply approach solves this duality: in [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[],"_links":{"self":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/629"}],"collection":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/comments?post=629"}],"version-history":[{"count":2,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/629\/revisions"}],"predecessor-version":[{"id":651,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/posts\/629\/revisions\/651"}],"wp:attachment":[{"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/media?parent=629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/categories?post=629"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/mathfinance.sns.it\/index.php\/wp-json\/wp\/v2\/tags?post=629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}