Similar Search Results

Restructuring sovereign bonds : holdouts, haircuts and the effectiveness of CACs

Fang, Chuck; Schumacher, Julian; Trebesch, Christoph - 2021 - This version: November 2020

Sovereign debt crises are difficult to solve. This paper studies the "holdout problem", meaning the risk that creditors … dataset of 23 bond restructurings with external creditors since 1994. We then study the determinants of holdouts and find that …

Persistent link: https://www.econbiz.de/10012405397

Sovereign debt restructuring and the missing international coordination

Erce, Aitor; Picarelli, Mattia - In: Fiscal policy in a turbulent era : tectonic shifts, (pp. 39-57). 2024

Persistent link: https://www.econbiz.de/10014577806

Endogenous growth, skill obsolescence and fiscal multipliers

Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021

We analyze the effects of government spending in a New-Keynesian model with search and matching frictions featuring endogenous growth through learning-by-doing and skill loss from long-term unemployment. We show that medium-run and long-run output and unemployment multipliers are much larger...

Persistent link: https://www.econbiz.de/10012514996

Sovereign Haircuts : 200 Years of Creditor Losses

Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - National Bureau of Economic Research - 2024

sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor …" applicable to future defaults. Poorer countries, first-time debt issuers, and those that borrowed heavily from external creditors …

Persistent link: https://www.econbiz.de/10014576628