Narrow search
Showing 1 - 10 of 110,002
Cover Image
The European sovereign debt crisis : what have we learned?
Kräussl, Roman; Lehnert, Thorsten; Stefanova, Denitsa - 2017
This paper sets the background for the Special Issue of the Journal of Empirical Finance on the European Sovereign Debt Crisis. It identifies the channel through which risks in the financial industry leaked into the public sector. It discusses the role of the bank rescues in igniting the...
Persistent link: https://www.econbiz.de/10011588156
Cover Image
Gambling traps
Ari, Anil - 2018
I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...
Persistent link: https://www.econbiz.de/10011959253
Cover Image
Sovereign credit risk co-movements in the eurozone : simple interdependence or contagion? ; conference paper
Buchholz, Manuel; Tonzer, Lena - 2014
Since the onset of the eurozone sovereign debt crisis, credit risk spreads in Europe have diverged. Despite this divergence, credit risk comoves strongly within certain country groups such as the eurozone periphery. We seek to answer what the determinants of the observed pattern of credit risk...
Persistent link: https://www.econbiz.de/10010486057
Cover Image
200 years of sovereign debt crises : serial restructurings may be accompanied by higher creditor losses
Meyer, Josefin - In: DIW weekly report : economy, politics, science : a … 14 (2024) 6, pp. 45-51
Many sovereign defaults have occurred worldwide over the past 200 years. An analysis of 321 sovereign debt restructurings since 1815 shows that foreign private and institutional investor losses were 43 percent on average. Notably, beginning in the 1970s, several debt exchanges have increasingly...
Persistent link: https://www.econbiz.de/10014477332
Cover Image
Sovereign Debt Crises and Financial Bailouts : The Anatomy and Components of an Everlasting Relationship (I)
Ojo D Delaney PhD, Marianne - 2016
This paper highlights why financial bailouts are an inevitable and necessary element in global efforts aimed at ensuring that financial stability is sustained. How could such bailouts be conducted in such a way that moral hazard does not become a too frequent, ever recurring issue?Systemic risks...
Persistent link: https://www.econbiz.de/10013008303
Cover Image
Sovereign debt in the 21st century : looking backward, looking forward
Mitchener, Kris; Trebesch, Christoph - 2021
How will sovereign debt markets evolve in the 21st century? We survey how the literature has responded to the eurozone debt crisis, placing "lessons learned" in historical perspective. The crisis featured: (i) the return of debt problems to advanced economies; (ii) a bank-sovereign "doom-loop"...
Persistent link: https://www.econbiz.de/10012489670
Cover Image
China as an international lender of last resort
Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; … - 2023 - First draft: March 2023
together, China’s overseas bailouts correspond to more than 20 percent of total IMF lending over the past decade and bailout …
Persistent link: https://www.econbiz.de/10014247738
Cover Image
Self-inflicted debt crises
Dimopoulos, Theodosios; Schürhoff, Norman - 2021
borrowers misprice the option to default with a U-shaped negative pricing error. The myopia discount changes the optimal bailout … policy. Myopia gets punished when the distortions from default mispricing outweigh the future bailout costs, resulting in … procrastinated default and protracted crises. The model shows that (i) myopia is an important determinant for bailout policy, (ii …
Persistent link: https://www.econbiz.de/10012487611
Cover Image
The impact of bailouts on the probability of sovereign debt crises : evidence from IMF-supported programs
Balima, Wenéyam Hippolyte; Sy, Amadou N. R. - 2019
This paper studies the role of IMF-supported programs in mitigating the likelihood of subsequent sovereign defaults in borrowing countries. Using a panel of 106 developing countries from 1970 to 2016 and an entropy balancing methodology, we find that IMF-supported programs significantly reduce...
Persistent link: https://www.econbiz.de/10011996413
Cover Image
Sovereign risk and bank risk-taking
Ari, Anil - 2015
Persistent link: https://www.econbiz.de/10011293364