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,...

Purpose With China’s economic growth slowing down and the growth rate of fiscal revenue decreasing, the pressure on local government debts is further increasing. Under this background, it is of great significance to clarify the relation between local government debts and China's economic...

The paper aims to analyse the impact of government debt on the country’s economic growth. Beginning of the economic crisis in 2007 and rapid growth of government debt has attracted interest in this topic. Government debt-to-GDP ratio in the EU has increased from 58.7 to 86.8 percent from 2007...

This paper draws on network theory to investigate European banks' sovereign debt exposures. Banks' holdings of sovereign debt build a network of financial linkages with European countries that exhibits a long-tail distribution of node degrees. A highly connected network core of 15 banks is...

The major focus of this paper is on the sovereign-banks relationship following the COVID- 19 pandemic crisis outbreak, with a view to gaining an insight into banks' exposure to the sovereign. We rely on a series of complementary research approaches, such as desk research, comparative statistical...

Die finanzielle Situation vieler Kommunen in Deutschland hat sich in den letzten 20 Jahren stark verschlechtert. Nicht alle Kommunen konnten Strukturwandel, Finanzmarktkrise, Migration und die demografische Veränderung im Rahmen ihrer verfügbaren Ressourcen bewältigen. Der vorliegende Beitrag...

Staatliche Schulden sind in aller Munde. Die Wirtschafts- und Finanzkrise Europas ist nicht zuletzt eine Krise staatlicher und kommunaler Verschuldung. In Deutschland rücken neben den Schulden von Bund und Ländern auch die Verpflichtungen der Kommunen wieder ins Zentrum der Betrachtung. Mit...