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Regulatory and Bailout Decisions in a Banking Union
Haufler, Andreas - 2021
which banks are to be shut down before they can go bankrupt, and (ii) a loss allocation – or bailout – decision of who pays … contrast, bailout policies are centralized only when international spillovers from cross-border bank ownership are strong, and …
Persistent link: https://www.econbiz.de/10013236197
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Collective Memories on the 2010 European Debt Crisis
Arnemann, Laura; Konrad, Kai A.; Potrafke, Niklas - 2021
We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis differ between citizens from borrower and lender countries. We use new international survey data for non-experts and experts in member countries of the euro area. The results show...
Persistent link: https://www.econbiz.de/10013250727
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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone crisis countries (Greece, Portugal, Ireland, Cyprus, Spain)...
Persistent link: https://www.econbiz.de/10012866042
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How to Handle the Fiscal Crisis in Greece? Empirical Evidence Based on a Survey of Economic Experts
Potrafke, Niklas - 2019
We asked economic experts polled by the CESifo World Economic Survey how to handle the fiscal crisis in Greece in the …
Persistent link: https://www.econbiz.de/10012864937
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What Went Wrong? : The Puerto Rican Debt Crisis, the 'Treasury Put,' and the Failure of Market Discipline
Chirinko, Robert S. - 2019
paper examines the latter hypothesis, which we label the “Treasury Put.” The expectation of a federal bailout was perfectly … reasonable given past behavior by the federal government, starting with the prior bailout of the city of New York. Evaluating the … Puerto Rican bonds. The third feature is the non-bailout of the city of Detroit in 2013 that effectively extinguished the …
Persistent link: https://www.econbiz.de/10012890192
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Bank bailouts, international linkages and cooperation
Niepmann, Friederike; Schmidt-Eisenlohr, Tim - 2011
Financial institutions are increasingly linked internationally. As a result, financial crisis and government intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While a social planner trades off tax distortions, liquidation...
Persistent link: https://www.econbiz.de/10010274723
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Compliance Effects of Sovereign Debt Cuts
Janeba, Eckhard - 2019
The controversy about sovereign debt cuts loomed prominently throughout crisis in the European Union (EU), as the EU legal rules were viewed to impose strict limitations on debt restructuring involving public creditors due to moral hazard concerns enshrined in the legal ban on bailouts. This...
Persistent link: https://www.econbiz.de/10012866369
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Currency Concentration in Sovereign Debt, Exchange Rate Cyclicality, and Volatility in Consumption
Fujii, Eiji - 2022
For emerging economies, borrowing abroad is a double-edged sword: it can buffer against adverse economic shocks and smooth their domestic consumption; however, it can also amplify volatility in consumption, depending on the currency in which the debt is denominated and cyclicality in the...
Persistent link: https://www.econbiz.de/10014241998
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Sovereign Debt in the 21st Century : Looking Backward, Looking Forward
Mitchener, Kris James; 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...
Persistent link: https://www.econbiz.de/10013237219
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The Greek crisis: Causes and consequences
Garcia Pascual, Antonio I.; Ghezzi, Piero - 2011
Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster than GDP. Fiscal consolidation alone cannot close the solvency gap. A substantial reduction in the stock of debt is needed. Even post-debt restructuring, there is no guarantee...
Persistent link: https://www.econbiz.de/10010280648