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Debt, Defaults and Crises : A Historical Perspective
Kotze, Antonie - 2015
The financial crisis that has been wreaking havoc in markets across the world since August 2007 had its origins in an …
Persistent link: https://www.econbiz.de/10013025173
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Can this time be different? : policy options in times of rising debt
Kose, M. Ayhan; Nagle, Peter; Ohnsorge, Franziska; … - 2020 - This version: March 2020
crises when they do occur. These include sound debt management, strong monetary and fiscal frameworks, and robust bank …
Persistent link: https://www.econbiz.de/10012195063
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China as an international lender of last resort
Horn, Sebastian; Parks, Bradley; Reinhart, Carmen M.; … - 2023 - First draft: March 2023
by the People’s Bank of China is increasingly used as a financial rescue mechanism, with more than USD 170 billion in …
Persistent link: https://www.econbiz.de/10014247738
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Gambling traps
Ari, Anil - 2018
endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form … expectations about bank risk-taking and demand a return on deposits according to their risk. This creates strategic … of bank net worth and lead to a "gambling trap" with a persistent drop in investment and output. I bring the model to …
Persistent link: https://www.econbiz.de/10011959253
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Sovereign risk and bank risk-taking
Ari, Anil - 2018
endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form … expectations about bank risk-taking and demand a return on deposits according to their risk. This creates strategic … of bank net worth, leading to a persistent drop in investment and output. I bring the model to bear on the European …
Persistent link: https://www.econbiz.de/10011978544
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Sovereign haircuts : 200 years of creditor losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or "haircuts". Our sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor losses vary widely (from none to 100%), but the...
Persistent link: https://www.econbiz.de/10014557831
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Multilateral safety nets for financial crises
Fernández Arias, Eduardo - 2010
There is an increasing need for a system of international lending of last resort (ILLR) to provide a safety net in the event of financial crises in vulnerable countries as financial globalization deepens and spreads. Multilateral progress to address liquidity and solvency crises has been patchy...
Persistent link: https://www.econbiz.de/10010246568
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Preventing a New Global Financial Crisis Amidst the Current 'Inflation Crisis' and the Spring 2023 Bank Failure Episodes
Gortsos, Christos - 2023
The quite recent (2007-2009) global financial crisis (GFC), which was caused by a mix of business, regulatory, supervisory, and macroeconomic (in terms of sub-optimal fiscal and/or monetary policies) failures, had a negative impact both on the financial system – with the failure, through the...
Persistent link: https://www.econbiz.de/10014354197
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Die Schuldenkrise des Globalen Südens : Verfahren zu ihrer Bewältigung schaffen
Liebal, Mara; Rehbein, Kristina - In: Vierteljahrshefte zur Wirtschaftsforschung 88 (2019) 4, pp. 67-76
Ausgelöst durch das Zusammentreffen niedriger Zinsen in reichen Ländern und einem hohen Finanzierungsbedarf für Infrastruktur in vielen ärmeren Ländern befindet sich die Verschuldung der Länder des Globalen Südens seit Jahren auf einem dramatisch hohen Niveau. Hohe Schuldendienstzahlungen...
Persistent link: https://www.econbiz.de/10012155264
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At the Core of the Sovereign Crisis in Spain : Restructuring Subnational Debt vs Internal Bail-Out
Tirado, Ignacio - 2013
Spain´s sovereign crisis has many sides and causes. An unviable economic model and an insolvent financial sector generated a private sector crisis that rapidly spread to the Government´s balance sheet. The public sector itself had –and continues to have- its own serious dysfunctions. One of...
Persistent link: https://www.econbiz.de/10013076101