sovereign debt crises
Systemic and Idiosyncratic Sovereign Debt Crises
... of sovereign debt crises and the countercyclical behavior of interest rates in emerging ...while sovereign defaults occur in bad times, adverse transitory shocks to economic activity rarely ...
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Credit Derivatives and Sovereign Debt Crises
... for sovereign debt ...of sovereign debt ...restructure debt, a default is preferable when countries are unproductive in order to avoid a continued ine¢cient use of ...to ...
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Foreign bias in bond portfolio investments : the role of economic and non-economic factors and the impact of the global financial and sovereign debt crises
... and sovereign risk, log (natural) of exchange rate volatility (EXCH), log of bond market development (BDEV), protection of property rights (PROP), capital openness (CAPOP), and country risk ...
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Sovereign debt crises and financial bailouts: the anatomy and components of an everlasting relationship (I)
... More importantly, lessons from the past should serve as a forum for greater unity rather than a basis for the reawakening of old wounds. The International Monetary Fund serves as a classic reflection of the fact that ...
9
Sovereign Debt Restructuring After Argentina
... and/or sovereign debt crises, spawned various concrete proposals to reform the international financial architecture (Porzecanski ...the sovereign debtor, restrain disruptive litigation, and ...
14
EU Regulatory Measures Following the Crises: What Impact on Corporate Governance of Financial Institutions?
... Another tendency which may be observed regarding the impact of the new EU regulatory measures on company law and corporate governance is extending the powers of shareholders and of regulation in the public interest at ...
25
Sovereign debt crisis: A review of reasons, consequences and solutions
... the sovereign, especially under- and developing ...the debt crisis can probably ...big sovereign debt crises in the history of humanity, and they influenced to citizens ...public ...
10
Essays on Sovereign Debt Crisis
... of sovereign debt crises in advanced ...endogenous sovereign default with …nancial ...of debt outstand- ing, while prior research assumes that the default state is exogenously given, ...
167
Sovereign debt default and bank risk in China
... why debt crises can potentially occur in a low debt burden country, researchers came up with a self-fulfilling model that not only captured the debt level but also introduced debt ...
165
European Stock Market Contagion during Sovereign Debt Crisis and the Effects of Macroeconomic Announcements on the Correlations of Gold,Dollar and Stock Returns
... EU sovereign bonds since the start of the sovereign debt ...and sovereign debt crises to fifteen EMU ...the sovereign debt crisis affects stock market developments ...
101
Sovereign debt and incentives to default with uninsurable risks
... the sovereign can save upon repayments, increase current consumption, and replicate the same consumption pattern for the future without ...further debt. Hence, the sovereign may prefer to repay the ...
35
Sovereign debt and incentives to default with uninsurable risks
... We now restore the impossibility result under uniformly high implied interest rates. The crucial step in the argument is the construction of a feasible replication policy after default. The necessary condition for ...
31
Sovereign debt default: the impact of creditor composition
... difference between the two types of lenders is that large borrowers internalize the effects of their own actions on the rate of interest and on the probability of default, and have access to a commitment technology for ...
21
Delay and haircuts in sovereign debt : recovery and sustainability
... Nevertheless, in some situations, namely those where debtor payo¤s are lower in the case of one-period delay relative to two-period delay, the in- formation role of the IMF could improve ex ante e¢ ciency. A potentially ...
34
The Second Great Contraction
... for debt and banking ...banking crises predate independence in many cases, a sovereign debt crisis (external or internal) is by definition not possible for a ...currency, debt (domestic ...
27
Preventing Self fulfilling debt crises
... In the second part of the paper, I use the model to analyze which poli- cies available to the government can decrease the ex-ante likelihood of a debt crisis (i.e., prevent a debt crisis). I show …rst that ...
69
Default, currency crises, and sovereign credit ratings
... currency crises conditional on having defaulted are more common—but that currency crises are more frequent and in about half the cases (even in emerging market economies) do not necessarily lead to ...
40
Trade credit, international reserves and sovereign debt
... By tackling this problem directly we obtain a set of important in- sights regarding the role of international reserves. First, while gross reserves are dominated by undrawn credit lines under conditions of perfect ...
50
A sovereign debt model with trade credit and reserves
... of debt transaction, trade credit can be thought of as providing some combination of investment finance, consumption smoothing, and risk- ...particular, sovereign borrowers routinely hold large stocks of ...
58
Argentina’s sovereign debt default: a critical view
... a sovereign country, more weight to the existent legal provisions and rules is expected as concerns prohibiting fraud and manipulation, complying with disclosure requirements, keeping proper business conduct and ...
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