Similar Search Results

The Dynamics of Sovereign Debt Crises and Bailouts

Roch, Francisco - 2016

Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspot"-coordinated buyers strike. We introduce a bailout agency, and characterize the...

Persistent link: https://www.econbiz.de/10012977831

Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out

Broner, Fernando - 2014

other countries in the Eurozone, and how they may be addressed by policies at the European level …

Persistent link: https://www.econbiz.de/10013059093

Riding the Storm : Fiscal Sustainability in the Caribbean

Cevik, Serhan - 2020

Fiscal sustainability remains a paramount challenge for small economies with high debt and greater vulnerability to … climate change. This paper applies the model-based sustainability test for fiscal policy in a panel of 16 Caribbean countries … fiscal policy response is not adequate to ensure sustainability at higher levels of debt. We also find that the fiscal stance …

Persistent link: https://www.econbiz.de/10012840607

Assessing Dutch Fiscal and Debt Sustainability

Carton, Benjamin; Fouejieu, Armand - 2021

debt sustainability over the next decade, taking into account alternative recovery scenarios and associated fiscal … persistent economic effects of the pandemic, risks to the Dutch fiscal and debt sustainability would remain contained …

Persistent link: https://www.econbiz.de/10013250092

Investor Information and Bank Instability During the Euro Crisis

Iorgova, Silvia; Ross, Chase P. - 2021

Outside of financial crises, investors have little incentive to produce private information on banks' short-term liabilities held as information-insensitive safe assets. The same does not hold true during crises. We measure daily information production using data from credit default swap spreads...

Persistent link: https://www.econbiz.de/10013243048

Fiscal Consolidation in the Euro Area : How Much Can Structural Reforms Ease the Pain?

Anderson, Derek - 2013

The IMF's Global Integrated Monetary and Fiscal model (GIMF) is used to examine the scope for structural reforms in the euro area to offset the negative impact of fiscal consolidation required to put public debt back on a sustainable path. The results suggest that structural reforms in core...

Persistent link: https://www.econbiz.de/10013073680

Do Subnational Fiscal Rules Foster Fiscal Discipline? New Empirical Evidence from Europe

Kotia, Ananya - 2016

This paper studies how fiscal rules interact with the intergovernmental fiscal framework to foster fiscal discipline among European subnational governments. We use political variables describing the fiscal attitudes of the central government as instruments to obtain consistent estimates of the...

Persistent link: https://www.econbiz.de/10012977755

Cross-Country Spillovers of Fiscal Consolidations in the Euro Area

Poghosyan, Tigran - 2017

This paper revisits the issue of cross-country spillovers from fiscal consolidations using an innovative empirical methodology. We find evidence in support of fiscal spillovers in 10 euro area countries. Fiscal consolidation in one country not only reduces domestic output (direct effect), but...

Persistent link: https://www.econbiz.de/10012950411

Fiscal Politics in the Euro Area

Eyraud, Luc - 2017

This paper provides evidence of fiscal procyclicality, excessive deficits, distorted budget composition and poor compliance with fiscal rules in the euro area. Our analysis relies on real-time data for 19 countries participating in the euro area over 1999-2015. We look for, but do not find,...

Persistent link: https://www.econbiz.de/10012960584

Fiscal Crises

Gerling, Kerstin - 2017

A key objective of fiscal policy is to maintain the sustainability of public finances and avoid crises. Remarkably …

Persistent link: https://www.econbiz.de/10012956473

1
2
3
4
5
6
7
8
9
10
Next
Last