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Households debt restructuring : the re-default effect of a debt suspension
Fraisse, Henri - 2017
When facing financial distress, French households can file a case to a "households' over-indebtedness commission" (HDC). The HDC can order an immediate repayment or grant a debt suspension. Exploiting the random assignment of bankruptcy filings to managers, we show that a debt suspension has a...
Persistent link: https://www.econbiz.de/10011732088
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Making work pay for the indebted : the effect of debt services on the exit rates of unemployed individuals
Koning, Pierre - 2013
creditors, these individuals experienced a strong a priori disincentive to resume formal work. The direct aims of this … increased monitoring and sanction activities. …
Persistent link: https://www.econbiz.de/10010229931
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Government debt as insurance against macroeconomic risk
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2001
evidence that real world economies, while being dynamically efficient, are likely not to be interim Pareto optimal. We conclude …
Persistent link: https://www.econbiz.de/10011405711
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Should easier access to international credit replace foreign aid?
Bandyopadhyay, Subhayu; Lahiri, Sajal; Younas, Javed - 2011
We examine the interaction between foreign aid and binding borrowing constraint for a recipient country. We also analyze how these two instruments affect economic growth via non-linear relationships. First of all, we develop a two-country, two-period trade-theoretic model to develop testable...
Persistent link: https://www.econbiz.de/10009488418
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Agency and communication in IMF conditional lending : theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...
Persistent link: https://www.econbiz.de/10003817754
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Displacement and debt : the role of debt in returning to work in the period following the Great Recession
Bednarzik, Robert W.; Kern, Andreas; Hisnanick, John J. - 2017
The onset of the housing and subsequent financial crisis in 2008 marked the steepest economic downturn in the United. States, since the Great Depression in the late 1920s and 1930s. This most recent financial crisis has been characterized by massive layoffs and displacement. Given the depth of...
Persistent link: https://www.econbiz.de/10011647674
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The costs of favoritism : is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated – such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10003942325
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Does openness to international financial flows contribute to productivity growth?
Kose, M. Ayhan (contributor); Prasad, Eswar S. (contributor) - 2008
Economic theory has identified a number of channels through which openness to international financial flows could raise productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output growth, far less attention has been paid to its...
Persistent link: https://www.econbiz.de/10003747653
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No education, no good jobs? : Evidence on the relationship between education and labor market segmentation
Pagés, Carmen (contributor); Stampini, Marco (contributor) - 2007
This paper assesses labor market segmentation across formal and informal salaried jobs and self-employment in three Latin American and three transition countries. It looks separately at the markets for skilled and unskilled labor, inquiring if segmentation is an exclusive feature of the latter....
Persistent link: https://www.econbiz.de/10003603607
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Earnings mobility in Argentina, Mexico, and Venezuela : testing the divergence of earnings and the symmetry of mobility hypotheses
Fields, Gary S.; Duval-Hernández, Robert; Freije, Samuel; … - 2007
economies: Argentina, Mexico, and Venezuela. We ask whether those individuals who start in the best economic position are those … at all in the case of Argentina. Rather, earnings mobility is most frequently convergent or neutral in all three …
Persistent link: https://www.econbiz.de/10003608457