Results 21 to 30 of about 72,028 (44)

Is Inflation Default? The Role of Information in Debt Crises

The American Economic Review, 2017
We study the information sensitivity of government debt denominated in domestic versus foreign currency: the former is subject to inflation risk and the latter to default.
M. Bassetto, C. Galli
semanticscholar   +1 more source

Rational Inattention to News: The Perils of Forward Guidance

, 2013
This paper studies the social value of information about the future. In a stylized OLG model, agents need to forecast the future price level, they observe the current price and perceive with idiosyncratic noise the expectation announced by a more ...
Gaetano Gaballo
semanticscholar   +1 more source

Some of the next articles are maybe not open access.

Related searches:

Learning about Debt Crises

American Economic Journal: Macroeconomics, 2023
The European debt crisis presents a challenge to our understanding of the relationship between government bond yields and economic fundamentals. I argue that information frictions are an important missing element and support that claim with evidence on ...
Radoslaw Paluszynski
semanticscholar   +1 more source

Central Bank Credibility and Fiscal Responsibility

Social Science Research Network, 2023
We consider a New Keynesian model with strategic monetary and fiscal interactions. The fiscal authority maximizes social welfare. Monetary policy is delegated to a central bank with an anti-inflation bias that suffers from a lack of commitment.
Jesse Schreger, P. Yared, Emilio Zaratiegui   +2 more
semanticscholar   +1 more source

Reputation, Bailouts, and Interest Rate Spread Dynamics

American Economic Journal: Macroeconomics, 2022
We propose a joint theory for interest rate dynamics and bailout decisions. Interest rate spreads are driven by time-varying fundamentals and expectations of future bailouts. Private agents are uncertain about the government's willingness to bail out and
Alessandro Dovis, Rishabh Kirpalani
semanticscholar   +1 more source

Public Finance Management in India in the Time of COVID-19 Pandemic

The Indian Economic Journal, 2022
Due to the COVID-19 pandemic, public finance management (PFM) in the FY 2020–2021 and 2021–2022 have become extremely challenging. The economic contraction has created pressures on PFM in India in terms of lower revenue mobilisation and higher ...
S. Mukherjee, Shivani Badola
semanticscholar   +1 more source

Public Debt and External Debt Sustainability among BRICS Countries

Margin: The Journal of Applied Economic Research, 2022
This study analyses an important policy issue pertaining to the public debt and external debt of BRICS nations from 1993 to 2020 using the Bohn framework and a penalised-spline estimation method. It also checks the robustness of the results using the ADF
Magulsha George, K. Shanmugam
semanticscholar   +1 more source

The Value of Fiscal Capacity in the Face of a Rare Disaster

, 2020
We study stock market reactions to the COVID-19 outbreak around the world. Using individual stock-level data of more than 29,000 firms across more than 100 countries, we find that the stock market expects larger economic losses among countries with ...
F. Gerding, T. Martin, Florian Nagler
semanticscholar   +1 more source

Term Premia and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset

, 2011
This paper provides cross-country empirical evidence on term premia. I construct a panel of zero-coupon nominal government bond yields spanning ten industrialized countries and nearly two decades.
Jonathan H. Wright
semanticscholar   +1 more source

The Currency Composition of Sovereign Debt

American Economic Journal: Macroeconomics, 2019
We study the currency composition of sovereign debt in emerging economies through the lens of a model in which the government lacks commitment regarding debt and monetary policy.
D. Perez, Pablo Ottonello
semanticscholar   +1 more source