K problematike výnosovej krivky štátnych dlhopisov počas finančnej krízy
To Question of Yield Curve of Government Bonds Within Financial Crisis

Summary/Abstract: By means of the pure statistical analysis we observe the reactions of daily government bond spreads to the strongest signals coming from non-standard measures of the monetary policy. We define two signals and refer them to the selected individual event dates to measure the median and dispersion of the short and long maturity bond spreads reaction in the core and periphery euro area countries. As expected, we find the significant differences between the two groups of the countries, the conclusions of the direction of the impact are not always unambiguous, though. According to such a market reaction we also find the Slovak bond market affiliated with the core group only in the later stage of the debt crisis (in 2011).

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