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Barro, Robert J. - 2014

A safe asset's real value is insulated from shocks, including declines in GDP from rare macroeconomic disasters. However, in a Lucas-tree world, the aggregate risk is given by the process for GDP and cannot be altered by the creation of safe assets. Therefore, in the equilibrium of a...

Persistent link: https://www.econbiz.de/10012458013

The Bail-In Problem : Systematic Goals, Ad Hoc Means

Eichengreen, Barry - 2000

, Ecuador, Romania and Ukraine. We show that because default and restructuring are so painful and costly, it is simply not time …

Persistent link: https://www.econbiz.de/10012471114

On Wars, Sanctions and Sovereign Default

Bianchi, Javier; Sosa Padilla, César - National Bureau of Economic Research - 2022

This paper explores the role of restrictions on the use of international reserves as economic sanctions. We develop a simple model of the strategic game between a sanctioning (creditor) country and a sanctioned (debtor) country. We show how the sanctioning country should impose restrictions...

Persistent link: https://www.econbiz.de/10013191083

Sanctions and the Exchange Rate

Itskhoki, Oleg; Mukhin, Dmitry - National Bureau of Economic Research - 2022

invasion of Ukraine in February 2022 and the resulting sanctions is entirely consistent with the combined effects of these …

Persistent link: https://www.econbiz.de/10013191103

Property Rights and Finance

Johnson, Simon - 2002

Which is the tighter constraint on private sector investment: weak property rights or limited access to external finance? From a survey of new firms in post-communist countries, we find that weak property rights discourage firms from reinvesting their profits, even when bank loans are available....

Persistent link: https://www.econbiz.de/10012469863

Private Sanctions

Hart, Oliver D.; Thesmar, David; Zingales, Luigi - National Bureau of Economic Research - 2022

Russia after the invasion of Ukraine. 61% of respondents think that firms should exit Russia, regardless of the consequences …

Persistent link: https://www.econbiz.de/10013477220

War and Science in Ukraine

Ganguli, Ina; Waldinger, Fabian - National Bureau of Economic Research - 2023

has already had significant effects on science in Ukraine: research papers produced by Ukrainian scientists declined by … more than 40%. Drawing upon the economics of science and innovation literature, we highlight three primary channels through … return to Ukraine after the war has ended, are likely to have the greatest impact on long-run scientific productivity in …

Persistent link: https://www.econbiz.de/10014322836