文章基本信息

标题：Interpreting sovereign spreads
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作者：Eli M Remolona ; Michela Scatigna ; Eliza Wu 等
期刊名称：BIS Quarterly Review: International Banking and Financial Market Developments = BIZ-Quartalsbericht: Internationales Bankgeschäft und internationale Finanzmärkte
印刷版ISSN：1012-9979
出版年度：2007
卷号：2007
期号：1
出版社：Bank for International Settlements
摘要：
Sovereign spreads can be broken up into two components: the expected loss from default and the risk premium, with the latter reflecting how investors price the risk of unexpected losses. We show that the risk premium is often the larger part of the spread.