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Debt, Defaults and Crises : A Historical Perspective

Kotze, Antonie - 2015

The financial crisis that has been wreaking havoc in markets across the world since August 2007 had its origins in an …

Persistent link: https://www.econbiz.de/10013025173

Can this time be different? : policy options in times of rising debt

Kose, M. Ayhan; Nagle, Peter; Ohnsorge, Franziska; … - 2020 - This version: March 2020

crises when they do occur. These include sound debt management, strong monetary and fiscal frameworks, and robust bank …

Persistent link: https://www.econbiz.de/10012195063

China as an international lender of last resort

Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; … - 2023 - First draft: March 2023

by the People’s Bank of China is increasingly used as a financial rescue mechanism, with more than USD 170 billion in …

Persistent link: https://www.econbiz.de/10014247738

Gambling traps

Ari, Anil - 2018

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 return on deposits according to their risk. This creates strategic … of bank net worth and lead to a "gambling trap" with a persistent drop in investment and output. I bring the model to …

Persistent link: https://www.econbiz.de/10011959253

Sovereign risk and bank risk-taking

Ari, Anil - 2018

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 return on deposits according to their risk. This creates strategic … of bank net worth, leading to a persistent drop in investment and output. I bring the model to bear on the European …

Persistent link: https://www.econbiz.de/10011978544

Sovereign haircuts : 200 years of creditor losses

Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024

We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or "haircuts". Our sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor losses vary widely (from none to 100%), but the...

Persistent link: https://www.econbiz.de/10014557831

Multilateral safety nets for financial crises

Fernández Arias, Eduardo - 2010

There is an increasing need for a system of international lending of last resort (ILLR) to provide a safety net in the event of financial crises in vulnerable countries as financial globalization deepens and spreads. Multilateral progress to address liquidity and solvency crises has been patchy...

Persistent link: https://www.econbiz.de/10010246568

Boilerplate Shock : Sovereign Debt Contracts as Incubators of Systemic Risk

Shill, Gregory H. - 2015

Scholars generally assess the usefulness of standard-form securities contracts from the perspective of the firms that use them. But these firm-centric accounts overlook the cumulative impact of standardization on markets. Where the market in question is critical to the financial system, this...

Persistent link: https://www.econbiz.de/10013034077

Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)

Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010

On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

Persistent link: https://www.econbiz.de/10011706117

Banks' portfolio of government debt and sovereign risk

Afonso, António; Alves, José; Monteiro, Sofia - 2023

We analyze domestic, foreign, and central banks holdings of public debt for 31 countries for the period of 1989-2022, applying panel regressions and quantile analysis. We conclude that an increase in sovereign risk raises the share of domestic banks' portfolio of public debt and reduces the...

Persistent link: https://www.econbiz.de/10014383613

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