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Sovereign default risk premia and state-dependent twin deficits : conference paper
Hürtgen, Patrick; Rühmkorf, Ronald - 2013 - This version: August 7, 2013
This paper studies the impact of the state-dependent risk of a government default on the correlation of the scal balance and current account. We use a small open economy model where nonlinear risk premia arise endogenously when the government operates close to its scal limit, i.e. the maximum...
Persistent link: https://www.econbiz.de/10010341080
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Sovereign default risk and state-dependent twin deficits
Hürtgen, Patrick; Rühmkorf, Ronald - In: Journal of international money and finance 48 (2014), pp. 357-382
Persistent link: https://www.econbiz.de/10010465215
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Imbalances and debt crisis in the Euro area
Sipko, Juraj - In: Ekonomický časopis : časopis pre ekonomickú … 62 (2014) 3, pp. 265-284
Persistent link: https://www.econbiz.de/10010371787
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Current account balance, private debt and Euro Area sovereign debt crisis : a comparison of North and South
Lazăr, Isadora; Andreica, Mădălina Ecaterina - In: Revista română de economie 37 (2013) 2, pp. 40-52
Persistent link: https://www.econbiz.de/10010514874
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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
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Debt levels, debt composition, and sovereign spreads in emerging and advanced economies
Dell'Erba, Salvatore; Hausmann, Ricardo; Panizza, Ugo - 2013
Persistent link: https://www.econbiz.de/10009786958
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Debt levels, debt composition, and sovereign spreads in emerging and advanced economies
Dell'Erba, Salvatore; Hausmann, Ricardo; Panizza, Ugo - 2013
Persistent link: https://www.econbiz.de/10009791145
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Debt levels, debt composition, and sovereign spreads in emerging and advanced economies
Dell'Erba, Salvatore; Hausmann, Ricardo; Panizza, Ugo - In: Oxford review of economic policy 29 (2013) 3, pp. 518-547
Persistent link: https://www.econbiz.de/10010344449
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Debt levels, debt composition, and sovereign spreads in emerging and advanced economies
Dell’Erba, Salvatore; Hausmann, Ricardo; Panizza, Ugo - 2013
spreads is about one fifth of the corresponding correlation for emerging market economies. In Eurozone countries, however, the … financial crisis amplified the relationship between spreads and debt levels within the Eurozone but had no effect on the … liabilities is larger in the Eurozone than in standalone advanced economies. The paper concludes that debt composition matters and …
Persistent link: https://www.econbiz.de/10010189310
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Greek sovereign debt crisis : causes, fiscal adjustment programs and lessons for Croatia
Brkić, Mislav - In: Croatian economic survey 18 (2016) 1, pp. 71-99
Persistent link: https://www.econbiz.de/10011720016