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How Exports Matter: Trade Patterns over Development Stages

Audretsch, David B; Sanders, Mark; Zhang, Lu - C.E.P.R. Discussion Papers - 2012

In this paper we first propose a proxy for the maturity of a country’s export bundle based on product life cycle theory …. Employing a conditional latent class model, we then examine the effect of maturity of countries’ exports on their economic … faster when they specialize in less mature products in an advanced country regime. The effect of maturity turns insignificant …

Persistent link: https://www.econbiz.de/10011083276

The Impact of Debt Levels and Debt Maturity on Inflation

Faraglia, Elisa; Marcet, Albert; Oikonomou, Rigas; … - C.E.P.R. Discussion Papers - 2012

average maturity of government debt. We analyse these relationships under two different institutional settings. In one case … given. We identify the main mechanisms through which inflation is affected by debt and debt maturity (a real balance effect … monetary and fiscal policy we find that the persistence and volatility of inflation depends on the sign, size and maturity …

Persistent link: https://www.econbiz.de/10011083281

The Bond Market: An Inflation-Targeter's Best Friend

Rose, Andrew K - C.E.P.R. Discussion Papers - 2014

This paper explores the relationship between inflation and the existence of a publicly-traded, long-maturity, nominal …

Persistent link: https://www.econbiz.de/10011084572

Public Confidence and Debt Management: A Model and a Case Study of Italy

Alesina, Alberto F; Prati, Alessandro; Tabellini, Guido - C.E.P.R. Discussion Papers - 1989

confidence crisis is more likely if the average maturity of the debt is short. Conversely, a long and evenly distributed maturity …

Persistent link: https://www.econbiz.de/10005497997

A Cultural Clash View of the EU Crisis

Guiso, Luigi; Herrera, Helios; Morelli, Massimo - C.E.P.R. Discussion Papers - 2013

If voters of different countries adhere to different and deeply rooted cultural norms, when these countries interact their leaders may find it impossible to agree on effcient policies especially in hard times. Political leaders’actions are bound by a “conformity constraint”that requires...

Persistent link: https://www.econbiz.de/10011083748

Three Sisters: The Interlinkage between Sovereign Debt, Currency and Banking Crises

Eijffinger, Sylvester C W; Karatas, Bilge - C.E.P.R. Discussion Papers - 2013

The sovereign debt default and the linkages from banking and currency crisis have been rarely explored in the crisis literature. This study attempts to dive into this unexplored area by applying panel data binary choice model on a sample with 20 emerging countries having monthly observations for...

Persistent link: https://www.econbiz.de/10011084100

A Brazilian Debt-Crisis Model

Razin, Assaf; Sadka, Efraim - C.E.P.R. Discussion Papers - 2002

We develop a stylised model of multiple equilibria, with country risk spreads at the focus of the analysis. Fears that the country default on its debt triggers a reversal in the direction of inflows of international financial capital raise interest-rate spreads and thus the cost of servicing the...

Persistent link: https://www.econbiz.de/10005666609

Settling Defaults in the Era of Bond Finance

Eichengreen, Barry; Portes, Richard - C.E.P.R. Discussion Papers - 1988

We scrutinize two strands of received wisdom about debt crises: that which draws a strong contrast between the 1930s and 1980s in extent of default and ease of settlement, and that which attributes the difference to greater government involvement today. Rather than a sharp, dichotomous variable,...

Persistent link: https://www.econbiz.de/10005666671

Confidence Crises and Public Debt Management

Giavazzi, Francesco; Pagano, Marco - C.E.P.R. Discussion Papers - 1989

, lengthening its average maturity and/or smoothing the time distribution of maturing issues. …

Persistent link: https://www.econbiz.de/10005791449

The European Bond Markets Under EMU

Pagano, Marco; von Thadden, Ernst-Ludwig - C.E.P.R. Discussion Papers - 2004

In this Paper, we document how in the wake of monetary unification the markets for euro area sovereign and private-sector bonds have become increasingly integrated. Issuers and investors alike have come to regard the euro area bond market as a single one. Primary and secondary bond markets have...

Persistent link: https://www.econbiz.de/10005791915