public debt. Heterogeneous banks give rise to an interbank market where government bonds are used as collateral. A default … statistics alongside stylized facts during the European sovereign debt crisis. …

creditor countries before and after bond market segmentation. We show that, when secondary debt markets are segmented, a large …

characterizes the size and sign of its fiscal footprint, as well as the states of the world in which the temptation for fiscal goals … the cost of rolling over public debt, but decrease lending, real activity, and tax collections. They lower the incidence …

government's incentives to repay and therefore lowers its borrowing costs. For low levels of government debt, banks influence … their default risks through purchases of bonds. But, for high debt levels, this influence is lost since bank and government …

This paper examines the effect of reduced self-control on debt-taking in a laboratory experiment. We manipulate self … that people with low self-control have more problems with the repayment of consumption debt, but this relationship is, in …

itself by issuing non-contingent debt. We show that Ramsey optimal policies occasionally deviate from the legal repayment … obligation and repay debt only partially, even if such deviations give rise to significant ‘default costs’. Optimal default …

'competing' on debt. While the existing spatial econometric literature focuses on tax and spending competition, very little is … known about spatial interaction via public debt. This paper estimates the spatial interdependence of public debt among … and robust interaction effects between debt of neighboring municipalities, which we compare to spatial tax and spending …

The paper analyses how the IMF brought its experience gained in emerging market sovereign debt crises in the troika …

sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by …