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To Default or Not? The Aftermath of Sovereign Defaults and IMF Austerity Programs During Economic Crises
Malinen, Tuomas - 2020
dataset on economic crises after the Second World War. Results show that, in terms of the real economy, developing countries …
Persistent link: https://www.econbiz.de/10012855488
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Stimulus vs. austerity vs. default
Cuadra, Gabriel; Ramos-Francia, Manuel - 2014
There is an ongoing debate about austerity and stimulus in the Euro zone. Moreover, given the fiscal and financial problems in the region, a default has appeared likely at times. In this context, this paper develops a dynamic stochastic quantitative model of sovereign default with fiscal policy,...
Persistent link: https://www.econbiz.de/10010370901
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The macroeconomic effects of default and debt restructuring : an agent based exploration
Tedeschi, Gabriele; Vidal-Tomás, David; Delli Gatti, … - In: International review of economics & finance : IREF 76 (2021), pp. 1146-1163
Persistent link: https://www.econbiz.de/10013176798
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Macroeconomic impacts of foreign exchange reserve accumulation : theory and international evidence
Fukuda, Shin'ichi; Kon, Yoshifumi - 2010
simple open economy model where increased foreign exchange reserves reduce the costs of liquidity risk. Given the amount of … investment and economic growth. We provide empirical support for our theoretical analysis using panel data from the Penn World …
Persistent link: https://www.econbiz.de/10003982936
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Macroeconomic effects of public debt in Nigeria
Olaniran, Oladotun Richard; Falade, Olanipekun Emmanuel - In: International journal of management, economics and … 13 (2024) 1/2, pp. 25-40
sourced from World Development Indicators (WDI, 2021), and CBN Statistical Bulletin (2020) were used. The study employed two …
Persistent link: https://www.econbiz.de/10014566183
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Unstable Prosperity : How Globalization Made the World Economy More Volatile
Mendoza, Enrique G.; Quadrini, Vincenzo - National Bureau of Economic Research - 2023
The sharp, secular decline in the world real interest rate of the past thirty years suggests that the surge in global … made the world economy more vulnerable to financial crises. These findings are the quantitative predictions of a two …
Persistent link: https://www.econbiz.de/10013537726
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The Macroeconomic Effects of Official Debt Restructuring : Evidence from the Paris Club
Cheng, Gong - 2017
This paper presents new empirical results on the macroeconomic impact of sovereign debt restructurings with official-sector creditors. Using a novel dataset on Paris Club restructurings and Local Projection methods, we find that Paris Club treatments can have a significant impact on economic...
Persistent link: https://www.econbiz.de/10012955713
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Unemployment and Debt Dynamics in a Highly Indebted Small Open Economy
Heer, Burkhard - 2011
The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in … bargaining are introduced. We find that a negative total factor productivity shock primarily has effects on the economy … significantly reduces the initial response of the unemployment rate. In case of a temporary productivity shock, sticky wages imply …
Persistent link: https://www.econbiz.de/10013123217
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Unemployment and debt dynamics in a highly indebted small open economy
Heer, Burkhard; Schubert, Stefan Franz - 2011
The paper analyzes the dynamic effects of a total factor productivity shock and an interest rate risk premium shock in … bargaining are introduced. We find that a negative total factor productivity shock primarily has effects on the economy … significantly reduces the initial response of the unemployment rate. In case of a temporary productivity shock, sticky wages imply …
Persistent link: https://www.econbiz.de/10009153857
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The global financial crisis and its impact on emerging market economies in Europe and the CIS : evidence from mid-2010
Dąbrowski, Marek - 2010
Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...
Persistent link: https://www.econbiz.de/10008664983