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The dynamics of bank and sovereign credit risk

Kallestrup, René - 2012 - 1. ed.

underlying causes of the crisis were, and even less agreement as to what to do about it . Like World War II, no single account of …

Persistent link: https://www.econbiz.de/10009680068

Debt Restructuring

Friedman, Benjamin M. - 2000

shows how several ways in which the actual world of international lending departs from these conditions give both lenders …

Persistent link: https://www.econbiz.de/10012471039

Liquidity Crises in Emerging Markets : Theory and Policy

Chang, Roberto - 1999

We build a model of financial sector illiquidity in an open economy. Illiquidity defined as a situation in which a country's consolidated financial system has potential short-term obligations in foreign currency that exceed the amount of foreign currency it can have access to on short notice can...

Persistent link: https://www.econbiz.de/10012471518

Fiscal Stimulus and Commercial Bank Lending Under COVID-19

Aizenman, Joshua; Jinjarak, Yothin; Spiegel, Mark - National Bureau of Economic Research - 2022

We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...

Persistent link: https://www.econbiz.de/10013172181

The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy

Frenkel, Jacob A. - 1984

This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty … exert real effects. It is shown that a current budget deficit(resulting from a tax cut) raises world rates of interest. On … transmission. In the long run, a higher steady-state value of government debt raises the steady-state world rate of interest but …

Persistent link: https://www.econbiz.de/10012477559

Budget Deficits and Rates of Interest in the World Economy

Frenkel, Jacob A. - 1984

This paper deals with the international transmission of the effects of budget deficits on world rates of interest and … spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and … horizon was finite. This formulation generates asimple pattern of aggregate behavior of the two-country world, and it assures …

Persistent link: https://www.econbiz.de/10012477738

Public Debt Through the Ages

Eichengreen, Barry - 2019

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...

Persistent link: https://www.econbiz.de/10012479450

De facto Fiscal Space and Fiscal Stimulus : Definition and Assessment

Aizenman, Joshua - 2010

We define the notion of a 'de facto fiscal space' of a country as the inverse of the tax-years it would take to repay the public debt. Specifically, we measure the outstanding public debt relative to the de facto tax base, where the latter measures the realized tax collection, averaged across...

Persistent link: https://www.econbiz.de/10012462118

How Big (Small?) are Fiscal Multipliers?

Ilzetzki, Ethan - 2010

We contribute to the debate on the macroeconomic effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a...

Persistent link: https://www.econbiz.de/10012462178

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/10012462835