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Financial fragility, sovereign default risk and the limits to commercial bank bail-outs
Wijnbergen, Sweder van; Kwaak, Christiaan van der - 2013
We analyse the poisonous interaction between bank rescues, financial fragility and sovereign debt discounts. In our … sovereign debt discount. We introduce long term government debt, which gives rise to the possibility of capital losses on bank … intermediaries causes bond prices to drop triggering capital losses at the bank under intervention. This mechanism shows the limits …
Persistent link: https://www.econbiz.de/10010224776
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Financial fragility, sovereign default risk and the limits to commercial bank bail-outs
Kwaak, Christiaan van der; Wijnbergen, Sweder van - In: Journal of economic dynamics & control 43 (2014), pp. 218-240
Persistent link: https://www.econbiz.de/10010470116
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Commodity price risk management and fiscal policy in a sovereign default model
Lopez-Martin, Bernabe; Leal, Julio; Martinez Fritscher, … - 2017
Persistent link: https://www.econbiz.de/10011752649
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Private overborrowing under sovereign risk
Arce, Fernando - 2022
This paper proposes a quantitative theory of the interaction between private and public debt in an open economy. Excessive private debt increases the frequency of financial crises. During such crises the government provides fiscal bailouts financed with risky public debt. This response may cause...
Persistent link: https://www.econbiz.de/10013194400
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Global banks and systemic debt crises
Morelli, Juan M.; Ottonello, Pablo; Perez, Diego J. - In: Econometrica : journal of the Econometric Society, an … 90 (2022) 2, pp. 749-798
Persistent link: https://www.econbiz.de/10013190099
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Long-term government debt, financial fragility and sovereign default risk
Kwaak, Christiaan van der; Wijnbergen, Sweder van - 2013
Persistent link: https://www.econbiz.de/10010191409
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Sovereign debt and bank fragility in Spain
Kwaak, Christiaan van der; Wijnbergen, Sweder van - In: Review of world economics 153 (2017) 3, pp. 511-543
Persistent link: https://www.econbiz.de/10011889361
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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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Governing the market for sovereign bailouts
Mause, Karsten - In: Debt default and democracy, (pp. 17-35). 2018
Persistent link: https://www.econbiz.de/10011912367
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Sovereign Uncertainty
Silgado-Gómez, Edgar - 2020
obtained in the presence of a larger response by the central bank. The model also emphasizes the importance of financial …
Persistent link: https://www.econbiz.de/10012846834