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Fiscal fatigue and public debt limit in Brazil : are we on sustainable path?

Pereira, Rodrigo Mendes - 2020

In this paper I use Ghosh et al. (2013) approach to assess Brazil's fiscal sustainability, fiscal fatigue, and public … debt limit. Using monthly data for the last 21 years, I estimate Brazil's fiscal reaction function and an eventual fiscal … higher levels of debt. I show that fiscal fatigue occurs at relatively mild levels of debt in Brazil. I also define Brazil …

Persistent link: https://www.econbiz.de/10012266960

In search of a theory of debt management

Faraglia, Elisa; Marcet, Albert; Scott, Andrew - 2011

Persistent link: https://www.econbiz.de/10009356696

The IMF to the rescue : did the euro area benefit from the fund's experience in crisis fighting?

Dullien, Sebastian; Fritz, Barbara; Mühlich, Laurissa - 2016

The paper analyses how the IMF brought its experience gained in emerging market sovereign debt crises in the troika’s handling of the euro crisis. We link models of multiple equilibria with the IMF's experience made in Latin American crises in the 2000s. We examine subsequent changes in the...

Persistent link: https://www.econbiz.de/10011548057

The indexation of public debt in israel

Kleiman, Ephraim - 1985

Persistent link: https://www.econbiz.de/10003529365

Optimal public debt structure

Grimes, Arthur L. - 1992

Persistent link: https://www.econbiz.de/10000913073

The political economy of euro area sovereign debt restructuring

Heinemann, Friedrich - 2021

The establishment of a sovereign debt restructuring mechanism (SDRM) is one of the important issues in the academic debate on a viable constitution for the European Monetary Union (EMU). Yet the topic seems to be taboo in official reform contributions to the debate. Against this backdrop, the...

Persistent link: https://www.econbiz.de/10012421950

Fiscal sustainability duringthe COVID-19 pandemic

Hürtgen, Patrick - 2020

The "Great Lockdown" implemented in response to the COVID-19 pandemic has led to a severe world-wide economic crisis. In euro area countries, sovereign debt-to-GDP ratios are on the rise and reductions in expected fiscal surpluses raise sustainability concerns amongst investors. This paper...

Persistent link: https://www.econbiz.de/10012250617

Convenient but risky government bonds

Kaldorf, Matthias; Röttger, Joost - 2023

How does convenience yield interact with sovereign risk and the supply of government bonds? We propose a model of sovereign debt and default in which convenience yield arises because investors are able to pledge government bonds as collateral on financial markets. Convenience yield is dependent...

Persistent link: https://www.econbiz.de/10014320773

Selective default expectations

Accominotti, Olivier; Albers, Thilo N. H.; Oosterlinck, Kim - 2023

This paper explores how selective default expectations affect the pricing of sovereign bonds in a historical laboratory: the German default of the 1930s. We analyze yield differentials between identical government bonds traded across various creditor countries before and after bond market...

Persistent link: https://www.econbiz.de/10014495920