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From Financial Crash to Debt Crisis
Reinhart, Carmen M. - 2010
analysis is on three related hypotheses tested with both "world" aggregate levels and on an individual country basis. First …
Persistent link: https://www.econbiz.de/10013147119
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Good-Bye Original Sin, Hello Risk On-Off, Financial Fragility, and Crises?
Aizenman, Joshua; Jinjarak, Yothin; Park, Donghyun; … - 2022
We analyze the sovereign bond issuance data of eight major emerging markets (EMs) - Brazil, China, India, Indonesia, Mexico, Russia, South Africa and Turkey from 1970 to 2018. Our analysis suggests that (i) EM local currency bonds tend to be smaller in size, shorter in maturity, or lower in...
Persistent link: https://www.econbiz.de/10013321908
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Measuring Real Economic Effects of Bailouts : Historical Perspectives on How Countries in Financial Distress Have Fared with and Without Bailouts
Bordo, Michael D.; Schwartz, Anna J. - 2022
In this paper we first trace the changing nature of banking, currency and debt crises from the last century to the present. Each type of crisis has transmogrified in the presence of official intervention and the creation of a safety net. A similar pattern is observed for international rescue...
Persistent link: https://www.econbiz.de/10014155989
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Fiscal and Financial Crises
Bordo, Michael D. - 2016
crises feature a feedback loop between bank guarantees and bank holdings of local sovereign debt thereby linking financial to …
Persistent link: https://www.econbiz.de/10012997361
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Resolving Debt Crises : an Historical Perspective
Eichengreen, Barry - 2021
Two general approaches have been offered for dealing with the developing country debt crisis: continued reliance on case-by-case negotiation, versus global plans for fundamentally restructuring the terms of international lending and repayment. Both approaches have precedents in earlier...
Persistent link: https://www.econbiz.de/10013221971
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This Time is Different Chartbook : Country Histories on Debt, Default, and Financial Crises
Reinhart, Carmen M. - 2010
cycles, banking and sovereign debt crises, hyperinflation, and, for the post World War II period, the reliance on IMF …
Persistent link: https://www.econbiz.de/10013146940
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The Long and the Short of it : Sovereign Debt Crises and Debt Maturity
Fernández, Raquel - 2015
We present a simple model of sovereign debt crises in which a country chooses its optimal mix of short and long-term bonds subject to standard contracting frictions: the country cannot commit to repay its debts nor to a specific path of future debt issues, and contracts cannot be made state...
Persistent link: https://www.econbiz.de/10013031214
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Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
Beltratti, Andrea - 2010
Though overall bank performance from July 2007 to December 2008 was the worst since at least the Great Depression …, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We … performance of banks during the credit crisis. More specifically, we investigate whether bank performance is related to bank …
Persistent link: https://www.econbiz.de/10013151816
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International Capital Inflows, Domestic Financial Intermediation and Financial Crises Under Imperfect Information
Chinn, Menzie David; Kletzer, Kenneth M. - 2021
. This model generates dynamic relationships between foreign capital inflows, domestic investment and domestic bank debt in … accumulation of bank debt and increasing concentration of domestic lending and investment to the anticipation of contingent … domestic bank intermediation of foreign capital inflows under exchange rate pegs …
Persistent link: https://www.econbiz.de/10013248678
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Debt Fragility and Bailouts
Cooper, Russell - 2012
This paper studies debt fragility and the sharing of the resulting strategic uncertainty through ex post bailouts. Default arises in equilibrium because of both fundamental shocks and beliefs. The probability of default depends on borrowing rates and, in equilibrium, on the beliefs of lenders...
Persistent link: https://www.econbiz.de/10013100683