The international transmission of risk : causal relations among developed and emerging countries' term premia

Borradores de Economia
Número: 
869
Publicado: 
Clasificación JEL: 
E43, F36, C22
Palabras clave: 
Term Premium, Sovereign Risk, Latin America, Dynamic Multipliers

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We study the effect of shocks to the United States government bonds term premium on Latin American government bonds term premia. For doing so, we compute dynamic multipliers. Our main findings indicate that Latin American countries' term premia respond pe