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Bankruptcy, Backwards : The Problem of Quasi-Sovereign Debt
Gelpern, Anna - 2012
This Feature considers the debts of quasi-sovereign states in light of proposals to let them file for bankruptcy protection. States that have ceded some but not all sovereign prerogatives to a central government face distinct challenges as debtors. It is unhelpful to analyze these challenges...
Persistent link: https://www.econbiz.de/10013113162
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Romania's foreign debt crisis in the 1980s : determinants and consequences
Georgescu, George - 2018
Romania, the study focuses on examining the 1980s foreign debt crisis context, its determinants and consequences, the impact … entered default or restructuring on the sovereign debt. In the case of Romania, the impact of the foreign debt crisis … outstanding loans contracted from international commercial banks, to which Romania was highly indebted. The decision of simple …
Persistent link: https://www.econbiz.de/10012117973
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Assessing debt sustainability in a stochastic environment : 200 years of Dutch debt and deficit management
Wijnbergen, Sweder van; France, Alexander - 2012
Persistent link: https://www.econbiz.de/10010191022
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Debt sustainability in Guatemala : institutional arrangement and quantitative analysis
Catalán-Herrera, Juan Carlos - 2020
This paper assesses debt sustainability in Guatemala. Debt stability has been achieved at very low expenditure levels …
Persistent link: https://www.econbiz.de/10012299175
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Fiscal Sustainability and Debt in Small Open Economies : An Application to the Caribbean
Worrell, DeLisle - 2016
The adverse impact of sovereign debt defaults on the international financial system has occasioned intense interest in methodologies for assessing sovereign debt risk. This is manifest in an outpouring of studies, research which has uncovered the fact that the riskiness of sovereign debt is...
Persistent link: https://www.econbiz.de/10012995346
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The role of lenders' trust in determining borrowing conditions for sovereign debt : an analysis of one-period government bonds with default risk
Guo, Yanling - 2015
In this paper, the author considers the sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the weight assigned to the lenders' interest by the borrowing government at the time of...
Persistent link: https://www.econbiz.de/10010512528
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A reconsideration of multiple equilibria in the analysis of one-period government bonds with default risk
Guo, Yanling - 2015
In this paper, the author considers sovereign debt in the form of one-period government bonds with default risk, which can be purchased by and traded among domestic and foreign investors. She shows that the "good equilibrium" is the only stable equilibrium under some quite general assumptions,...
Persistent link: https://www.econbiz.de/10011349880
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Debt reduction in Latin America and the Caribbean
Panizza, Ugo; Powell, Andrew - 2023
During the pandemic, public debt in Latin America and the Caribbean rose to more than 70 percent of GDP, and countries are now attempting to lower debt ratios. We analyze past debt reduction episodes and find inflation and the real interest rate were the most frequent main drivers, while higher...
Persistent link: https://www.econbiz.de/10014540585
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Puerto Rico and the Netherworld of Sovereign Debt Restructuring
Gulati, G. Mitu - 2017
Puerto Rico has incurred debt well beyond its ability to repay. It attempted to address its fiscal woes through legislation allowing the restructuring of some its debt. The Supreme Court put a stop to this effort, holding that Congress in the Bankruptcy Code barred the Commonwealth from enacting...
Persistent link: https://www.econbiz.de/10012960945
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The two approaches to money : debt, central banks, and functional finance
Mastromatteo, Giuseppe; Esposito, Lorenzo - 2015
The scientific reassessment of the economic role of the state after the crisis has renewed interest in Abba Lerner’s theory of functional finance (FF). A thorough discussion of this concept is helpful in reconsidering the debate on the nature of money and the origin of the business cycle and...
Persistent link: https://www.econbiz.de/10011392820