Narrow search
Showing 1 - 10 of 5,650
Cover Image
Quid pro quo : national institutions and sudden stops in international capital movements
Cavallo, Eduardo A. (contributor);  … - 2006
benchmark model of sovereign default and direct creditor sanctions by Obstfeld and Rogoff (1996). In their model it is in the … enhances the credibility of the country's promise to repay and prevents default altogether. We incorporate two key features of … at all costs" may be very bad advice indeed. -- Sudden Stops ; National Institutions ; Debt Accumulation ; Default …
Persistent link: https://www.econbiz.de/10003775744
Cover Image
Large net foreign liabilities of euro area countries : risks, prospects and policy options
Zorell, Nico - 2017
Over recent years, several euro area countries have registered large and persistent net foreign liabilities. This paper examines the risks arising from these external stock imbalances, the prospects for their smooth unwinding and the menu of policy options. The paper demonstrates that external...
Persistent link: https://www.econbiz.de/10011732721
Cover Image
Resolving Sovereign Debt Crises : The Role of Political Risk
Trebesch, Christoph - 2018
Sovereign defaults are bad news for investors and debtor countries, in particular if a default becomes messy and … to exit a default quickly …
Persistent link: https://www.econbiz.de/10012910995
Cover Image
Peru's Selective Default : A Stain on its Creditworthiness
Porzecanski, Arturo C. - 2016
In the 1970s, while a leftist military dictatorship ruled Peru, more than 22 million acres of cultivated or grazing farmland – one-third of Peru's total agricultural acreage, or seven-and-a-half times the land area of Connecticut – were expropriated from thousands of large owners as part of...
Persistent link: https://www.econbiz.de/10012999571
Cover Image
Political economics of external sovereign defaults
Achury, Carolina; Koulovatianos, Christos; Tsoukalas, John - 2015
and sovereign default. We analytically characterize debt-GDP thresholds that foster cooperation among rent seeking groups … and avoid default. Our analysis and application helps in understanding the politico-economic sustainability of sovereign …
Persistent link: https://www.econbiz.de/10011302496
Cover Image
On the Design of Sovereign Bond-Backed Securities
Barucci, Emilio - 2019
We analyze Sovereign Bond-Backed Securities, concentrating our attention on the return of the different tranches and on their risk. We show that as the correlation level among defaults increases, the yield rate of senior tranches increases while the yield rate of junior tranches decreases. A...
Persistent link: https://www.econbiz.de/10012858438
Cover Image
Sovereign Debt
Martinez, Leonardo; Roch, Francisco; Roldán, Francisco; … - 2022
literatures on the costs and causes of defaults. It describes the adverse impact of sovereign default risk on the issuing …
Persistent link: https://www.econbiz.de/10014081238
Cover Image
Cross-border bank flows and monetary policy
Correa, Ricardo; Paligorova, Teodora; Sapriza, Horacio; … - 2018
We analyze the impact of monetary policy on bilateral cross-border bank flows using the BIS Locational Banking Statistics between 1995 and 2014. We find that monetary policy in the source countries is an important determinant of cross-border bank flows. In addition, we find evidence in favor of...
Persistent link: https://www.econbiz.de/10011967372
Cover Image
The Composition of International Capital Flows : Risk Sharing Through Foreign Direct Investment
Albuquerque, Rui A. - 2014
the pricing of default risk. Inalienability implies that it is not as advantageous to expropriate FDI relative to other … of FDI translates into a lower default premium and lower sensitivity to changes in a country’s financing constraint. The …
Persistent link: https://www.econbiz.de/10014169614
Cover Image
Sudden stops, sovereign risk, and fiscal rules
Gómez González, José Eduardo; Valencia, Oscar M.; … - 2021
This paper studies the effect of implementing fiscal rules on sovereign default risk and on the probability of large …
Persistent link: https://www.econbiz.de/10012586437