addition to global liquidity and default risk factors, we also include country-specific default risk component, and all of them …

This paper develops a quantitative model of contagion of financial crisis and sovereign default for small open … to default in its debts, this domestic shock will affect the investor's wealth and therefore her tolerance of risk … country does not force such country to default, the domestic shock affects the overall riskiness of the investor's portfolio …

sovereign debtor was a major exception that would not soon be repeated, the case of Ecuador’s latest default on shaky claims of …

This paper develops a model of debt and default for small open economies that interact with risk averse international … investors. The model developed here extends the recent work on the analysis of endogenous default risk to the case in which … preferences, then the emerging economy's default risk, capital flows, bond prices and consumption are a function not only of the …

productivity default shocks using a continuous time structural model of default. At every instant the government maximizes expected … if there was a default relative to the no default benchmark. This is a measure on how much productivity could countries … loose at default. We found a robust negative relation between the costs of default and the probability of default. That is …

This paper assess the freedom of capital movements between France and Italy in the late 19 century looking at the … in France and in Italy the paper looks at the possibility of a possible arbitrage profit. The absence of any arbitrage …

-industrial states relied on private individuals to collect taxes; (ii) why after 1600 both England and France moved from competitive … self-undermining in England where it was quickly replaced by direct collection, but lasted in France until the French …

-Ages, the southern part of France was under Justinian civil law and the north was under customary laws which, as with common law … fundamental factors. The civil law appears even to have a positive effect in many specifications. Old Regime France does not …