Pseudoscalar susceptibilities and quark condensates: chiral restoration and lattice screening masses

We derive the formal Ward identities relating pseudoscalar susceptibilities and quark condensates in three-flavor QCD, including consistently the 77-n' sector and the U-A(1) anomaly. These identities are verified in the low-energy realization provided by ChPT, both in the standard SU(3) framework for the octet case and combining the use of the SU(3) framework and the large-Nc expansion of QCD to account properly for the nonet sector and anomalous contributions. The analysis is performed including finite temperature corrections as well as the calculation of U(3) quark condensates and all pseudoscalar susceptibilities, which together with the full set of Ward identities, are new results of this work. Finally, the Ward identities are used to derive scaling relations for pseudoscalar masses which explain the behavior with temperature of lattice screening masses near chiral symmetry restoration.

Volatility spillovers in EMU sovereign bond markets

We analyse volatility spillovers in EMU sovereign bond markets. First, we examine the unconditional patterns during the full sample (April 1999-January 2014) using a measure recently proposed by Diebold and Yılmaz (2012). Second, we make use of a dynamic analysis to evaluate net directional volatility spillovers for each of the eleven countries under study, and to determine whether core and peripheral markets present differences. Finally, we apply a panel analysis to empirically investigate the determinants of net directional spillovers of this kind.