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International transmission of interest rates : the role of international reserves and sovereign debt
Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021
We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...
Persistent link: https://www.econbiz.de/10012504452
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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 …
Persistent link: https://www.econbiz.de/10003982936
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Indebtedness and growth in the EMU before the Covid-19 pandemic shock
Morganti, Patrizio - In: European journal of comparative economics 20 (2023) 1, pp. 39-70
Rising debt can threaten macroeconomic, financial, and fiscal stability, and thus fuels uncertainty among economic agents. Therefore, high levels of indebtedness may hinder economic growth especially for those economies with a large debt burden and may also amplify the volatility of GDP growth...
Persistent link: https://www.econbiz.de/10014318632
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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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On the role of financial aid in a default episode
Cuadra, Gabriel; Ramos-Francia, Manuel; Garcia-Verdu, … - In: Latin American economic review : LAER ; official … 27 (2018), pp. 1-19
Our aim is to explore the role of financial aid in a default episode. To that end, we develop a dynamic stochastic quantitative model of sovereign default featuring fiscal policy, endogenous financial aid and risk-averse foreign lenders. After calibrating the model, we feed output shocks into...
Persistent link: https://www.econbiz.de/10012029543
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On the role of financial aid in a default episode
Bazdresch, Santiago - 2018
We develop a dynamic stochastic quantitative model of sovereign default featuring fiscal policy, endogenous financial aid and risk-averse foreign lenders, in order to explore the role of financial aid in a default episode. After calibrating the model, we feed output shocks into the model to show...
Persistent link: https://www.econbiz.de/10012165737
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To Default or Not? The Aftermath of Sovereign Defaults and IMF Austerity Programs During Economic Crises
Malinen, Tuomas - 2020
Economic crises are an agonizing feature of modern economies leading to dramatic falls in the real GDP per capita. A crisis can exhaust country's resources forcing it to either apply for an IMF program or to default on its foreign or domestic liabilities. Do these drastic measures aid countries...
Persistent link: https://www.econbiz.de/10012855488
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Macroeconomic effects of public debt in Nigeria
Olaniran, Oladotun Richard; Falade, Olanipekun Emmanual - In: International journal of management, economics and … 13 (2024) 1/2, pp. 25-40
The purpose of this study was to investigate the impact of domestic and external debt on macroeconomic variables in Nigeria from 1981 to 2020. Annual secondary data on domestic and external debt, inflation, output, investment and consumption sourced from World Development Indicators (WDI, 2021),...
Persistent link: https://www.econbiz.de/10014566183
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Deadly debt crises : COVID-19 in emerging markets
Arellano, Cristina; Bai, Yan; Mihalache, Gabriel - 2021 - Current version April 2021
Persistent link: https://www.econbiz.de/10012606975
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Macroeconomic Variables and the Sovereign Risk Premia in EMU, Non-EMU EU, and Developed Countries
Gevorkyan, Arkady - 2015
This project studies and models key macroeconomic variables and their impact on sovereign risk premia across some European economies and developed countries. The sample is divided into groups of countries in the European Monetary Union (EMU), the 'standalone' economies that are outside the EMU...
Persistent link: https://www.econbiz.de/10013013378