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Nonlinearities in Sovereign Risk Pricing : The Role of CDS Index Contracts
Delatte, Anne-Laure - 2014
peripheral countries during the debt crisis and explain them. Our estimates based on a panel smooth threshold regression model …
Persistent link: https://www.econbiz.de/10012458679
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Political Credit Cycles : The Case of the Euro Zone
Fernandez-Villaverde, Jesus - 2013
process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform …
Persistent link: https://www.econbiz.de/10012459762
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Target Loans, Current Account Balances and Capital Flows : The ECB's Rescue Facility
Sinn, Hans-Werner - 2011
destroyed the Bretton Woods System. Greece, Ireland, Portugal, Spain and Italy have suffered from balance-of-payments deficits …
Persistent link: https://www.econbiz.de/10012461031
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
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COVID-19 and SMEs : A 2021 "Time Bomb"?
Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research - 2021
This paper assesses the prospects of a 2021 time bomb in SME failures triggered by the generous support policies enacted during the 2020 COVID-19 crisis. Policies implemented in 2020, on their own, do not create a 2021 "time-bomb" for SMEs. Rather, business failures and policy costs remain...
Persistent link: https://www.econbiz.de/10012482634
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Moderate Inflation
Dornbusch, Rudiger - 1991
Inflation persists at moderate rates of 15-30 percent in all the countries that successfully reduced triple digit inflations in the 1980s. Several other countries, for example Colombia, have experienced moderate inflation for prolonged periods. In this paper we first set out theories of...
Persistent link: https://www.econbiz.de/10012475091
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Cross-subsidization of Bad Credit in a Lending Crisis
Artavanis, Nikolaos; Lee, Brian Jonghwan; Panageas, Stauros - National Bureau of Economic Research - 2022
We study the corporate-loan pricing decisions of a major Greek bank during the Greek financial crisis. A unique aspect of our dataset is that we observe both the interest rate and the "breakeven rate" of each loan, as computed by the bank's own loan-pricing department (in effect, the loan's...
Persistent link: https://www.econbiz.de/10013172149
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Contagion in the European Sovereign Debt Crisis
Glover, Brent - 2014
for the interconnectedness of sovereign debt in Europe …
Persistent link: https://www.econbiz.de/10012458098
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The Puzzling Behavior of Spreads during Covid
Fourakis, Stelios S.; Karabarbounis, Loukas - National Bureau of Economic Research - 2024
boom-bust cycle of Greece before Covid and salient observations on macro aggregates, government debt, and the sovereign … differed from the Great Recession in that sovereign debt markets remained calm and spreads barely responded. We study the … experience of Greece, the most extreme manifestation of the puzzling behavior of spreads during Covid. We develop a small open …
Persistent link: https://www.econbiz.de/10014468244
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Sudden Stop, Financial Factors and Economic Collpase in Latin America : Learning from Argentina and Chile
Calvo, Guillermo A. - 2005
This paper shows that the Russian 1998 crisis had a big impact on capital flows to Emerging Market Economies, EMs, especially in Latin America, and that the impact of the Russian shock differs quite markedly across EMs. To illustrate this statement, we compare the polar cases of Chile and...
Persistent link: https://www.econbiz.de/10012467532