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Eurozone : the untold economics
Hatgioannides, John; Karanassou, Marika; Sala, Hector - 2013
This paper dwells on the Eurozone woes and addresses the origins of the transition from a fictitious boom to a painful bust by unravelling (i) the supply-side structural imbalances that formed the core-periphery economic divide, and (ii) the necessity of the periphery's sovereign debt to finance...
Persistent link: https://www.econbiz.de/10009687800
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Multilateral safety nets for financial crises
Fernández Arias, Eduardo - 2010
There is an increasing need for a system of international lending of last resort (ILLR) to provide a safety net in the event of financial crises in vulnerable countries as financial globalization deepens and spreads. Multilateral progress to address liquidity and solvency crises has been patchy...
Persistent link: https://www.econbiz.de/10010246568
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Bank lending and the European sovereign debt crisis
De Marco, Filippo - 2017
Persistent link: https://www.econbiz.de/10011654746
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Monetary independence and rollover crises
Bianchi, Javier; Mondragon, Jorge - 2018
Persistent link: https://www.econbiz.de/10011967428
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Self-fulfilling debt crises with long stagnations
Ayres, Joao; Navarro, Gaston; Nicolini, Juan Pablo; … - 2019
Persistent link: https://www.econbiz.de/10012041273
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Self-fulfilling debt crises with long stagnations
Ayres, Joao; Navarro, Gaston; Nicolini, Juan Pablo; … - 2023
We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on the Southern European … countries. We find that expectations-driven debt crises are quantitatively relevant but state dependent, as they only occur … during stagnations. Expectations are a major driver explaining default rates and credit spread differences between Spain and …
Persistent link: https://www.econbiz.de/10014471204
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Collateral, liquidity and debt sustainability
Niemann, Stefan; Pichler, Paul - 2013
Persistent link: https://www.econbiz.de/10010359661
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Seigniorage and sovereign default : the response of emerging markets to COVID-19
Espino, Emilio; Kozlowski, Julian; Martin, Fernando M.; … - 2020
Persistent link: https://www.econbiz.de/10012306883
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Policy interventions in sovereign debt restructurings
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2019
The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that has proved hard to handle is how they in influence the...
Persistent link: https://www.econbiz.de/10012139015
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Sovereign external borrowing and multilateral lending : dynamics and crises
Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2018
the World Bank (WB). Finally, we find evidence of synchronization between MDBs and IMF during fiscal crises. …
Persistent link: https://www.econbiz.de/10011959415