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A Mechanism to Regulate Sovereign Debt Restructuring in the EURO Area
Andritzky, Jochen R. - 2016
To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a two-stage...
Persistent link: https://www.econbiz.de/10012985878
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A mechanism to regulate sovereign debt restructuring in the euro area
Andritzky, Jochen; Christofzik, Désirée I.; Feld, Lars P. - 2018
To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a novel two-stage...
Persistent link: https://www.econbiz.de/10011787444
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A Mechanism to Regulate Sovereign Debt Restructuring in the Euro Area
Andritzky, Jochen R. - 2016
To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a two-stage...
Persistent link: https://www.econbiz.de/10012982263
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A new start for the Eurozone : dealing with debt
Corsetti, Giancarlo; Feld, Lars P.; Lane, Philip R.; … - 2015
Persistent link: https://www.econbiz.de/10011392240
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A mechanism to regulate sovereign debt restructuring in the Euro area
Andritzky, Jochen; Christofzik, Désirée I.; Feld, Lars P. - 2016
To make the no-bailout clause credible and enhance the effectiveness of crisis assistance, a consistent institutional and legal framework is needed to ensure that private creditors contribute to crisis resolution. Getting activated as part of ESM crisis assistance, we propose a two-stage...
Persistent link: https://www.econbiz.de/10011521803
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Ein Scheitern ist nicht eingeplant, oder: Ordnungspolitische Prinzipien der Europäischen Währungsunion
Feld, Lars P. - In: Impulsreden zur Sozialen Marktwirtschaft. 2012
Persistent link: https://www.econbiz.de/10009692783
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Fiscal sustainability of the German Laender : time series evidence
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2015
We analyze the sustainability of public finances in the 16 states (Laender) of the Federal Republic of Germany using an … evidence against strict fiscal sustainability in a majority of German Laender. A notable exception to this finding is Bavaria. …
Persistent link: https://www.econbiz.de/10011404648
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Fiscal sustainability of the German Laender : time series evidence
Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014
In this paper we analyze the sustainability of public finances in the states (Laender) of the Federal Republic of … and 1991 to 2011 for East German Laender, respectively. In order to assess the fiscal sustainability of the (Laender) we … strict fiscal sustainability in most of the 16 German Laender. A notable exception to this finding is Bavaria. …
Persistent link: https://www.econbiz.de/10010388609
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Modeling fiscal sustainability in dynamic macro-panels with heterogeneous effects : evidence from German federal states
Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross … sustainability criteria. According to our results, politicians have significantly reacted to increasing debt levels by increasing …
Persistent link: https://www.econbiz.de/10011811360
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Modeling fiscal sustainability in dynamic macro-panels with heterogenous effects : evidence from German federal states
Feld, Lars P.; Köhler, Ekkehard A.; Wolfinger, Julia - 2018
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross … sustainability criteria. According to our results, politicians have significantly reacted to increasing debt levels by increasing …
Persistent link: https://www.econbiz.de/10011814265