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Waterloo: a Godsend for French Public Finances?
OOSTERLINCK, Kim; Ureche-Rangau, Loredana; Vaslin, … - Centre Emile Bernheim, Solvay Brussels School of … - 2013
Following Waterloo, managing French public finances represented a daunting task. Defeated France had lost a substantial … part of its population and territory. The country was partially occupied and France was to pay huge amounts as reparations … to the victors. Furthermore, France’s reputation had been tarnished by several defaults on its debt in the preceding …
Persistent link: https://www.econbiz.de/10010674275
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Waterloo: a Godsend for French Public Finances?
Oosterlinck, Kim; Ureche-Rangau, Loredana; Vaslin, … - 2013
Following Waterloo, managing French public finances represented a daunting task. Defeated France had lost a substantial … part of its population and territory. The country was partially occupied and France was to pay huge amounts as reparations … to the victors. Furthermore, France's reputation had been tarnished by several defaults on its debt in the preceding …
Persistent link: https://www.econbiz.de/10012669391
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Risk sharing with the monarch: Excusable defaults and contingent debt in the age of Philip II, 1556-1598
Drelichman, Maurizio; Voth, Joachim - Department of Economics and Business, Universitat … - 2011
Contingent sovereign debt can create important welfare gains. Nonetheless, there is almost no issuance today. Using hand-collected archival data, we examine the first known case of large-scale use of state-contingent sovereign debt in history. Philip II of Spain entered into hundreds of...
Persistent link: https://www.econbiz.de/10009321254
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Risk Sharing with the Monarch: Excusable Defaults and Contingent Debt in the Age of Philip II, 1556-1598
Drelichman, Mauricio; Voth, Hans-Joachim - Barcelona Graduate School of Economics (Barcelona GSE) - 2012
Contingent sovereign debt can create important welfare gains. Nonetheless, there is almost no issuance today. Using hand-collected archival data, we examine the first known case of large-scale use of state-contingent sovereign debt in history. Philip II of Spain entered into hundreds of...
Persistent link: https://www.econbiz.de/10010851380
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A Unified Italy? - Sovereign Debt and Investor Scepticism
Collet, Stéphanie - 2017
How do investors react to the issuance of common sovereign debt? This question is particularly relevant regarding the European sovereign debt crisis. The paper empirically studies the issuance of common debt during Italy's unification. Based on an original database of Italian bonds, this paper...
Persistent link: https://www.econbiz.de/10012975355
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Multiple Potential Payers and Sovereign Bond Prices
Oosterlinck, Kim; Ureche-Rangau, Loredana - Bank of Greece - 2008
case of default. …
Persistent link: https://www.econbiz.de/10005523527
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Multiple Potential Payers and Sovereign Bond Prices
OOSTERLINCK, Kim; Ureche-Rangau, Loredana - Centre Emile Bernheim, Solvay Brussels School of … - 2008
case of default. …
Persistent link: https://www.econbiz.de/10005558943
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Policy interventions in sovereign debt restructurings
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2019
The wave of sovereign defaults in the early 1980s and the string of debt crises in the decades that followed have fostered proposals involving policy interventions in sovereign debt restructurings. A key question about these proposals that has proved hard to handle is how they in influence the...
Persistent link: https://www.econbiz.de/10012139015
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Sovereign debt restructurings
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2018
extensions upon restructurings: income recovery after default, credit exclusion after restructuring, and regulatory costs of book …
Persistent link: https://www.econbiz.de/10011911551
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News, sovereign debt maturity, and default risk
Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2018
productivity. A quantitative model of news and sovereign debt default with endogenous maturity choice generates impulse responses …-term debt does not shield the country from bad news shocks, and it may even exacerbate default risk. Finally, an increase in the …
Persistent link: https://www.econbiz.de/10011950496