Results 21 to 30 of about 74,319 (47)
On the Macroeconomic Consequences of Over-Optimism
Social Science Research Network, 2018 Analyzing International Monetary Fund (IMF) data, we find that overly optimistic growth expectations for a country induce economic contractions a few years later.
P. Beaudry, T. Willems
semanticscholar +1 more source
Regime-Dependent Sovereign Risk Pricing During the Euro Crisis
Social Science Research Network, 2016 Previous work has documented a greater sensitivity of long-term government bond yields to fundamentals in Euro area stress countries during the euro crisis, but we know little about the driver(s) of regimeswitches.
Anne-Laure Delatte +2 more
semanticscholar +1 more source
Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models
The American Economic Review, 2018 We establish that creditor beliefs regarding future borrowing can be self-fulfilling, leading to multiple equilibria with markedly different debt accumulation patterns.
Mark Aguiar, M. Amador
semanticscholar +1 more source
Public Debt and the Political Economy of Reforms
Social Science Research NetworkHow do electoral incentives influence the choice to experiment with a policy reform that generates uncertain future benefits? To answer this question, we examine a two-period model of redistributive politics with uncertain policy outcomes involving a ...
C. Esslinger, P. Boyer
semanticscholar +1 more source
Fiscal Rules and the Sovereign Default Premium
Social Science Research Network, 2012 We study fiscal rules using a sovereign default model. A debt-brake (spread-brake) rule imposes a ceiling on the fiscal deficit when the sovereign debt (spread) is above a threshold.
J. Hatchondo +2 more
semanticscholar +1 more source
Sovereign Stress, Unconventional Monetary Policy, and SME Access to Finance
Social Science Research Network, 2015 We investigate the effect of sovereign stress and of unconventional monetary policy on small firms JEL Classification: D22, E58, G21 ...
Annalisa Ferrando +2 more
semanticscholar +1 more source
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
International Reserves and Rollover Risk
The American Economic Review, 2012 We study the optimal accumulation of international reserves in a quantitative model of sovereign default with long-term debt and a risk-free asset. Keeping higher levels of reserves provides a hedge against rollover risk, but this is costly because using
Javier Bianchi +2 more
semanticscholar +1 more source
Optimal Public Debt with Life Cycle Motives
American Economic Journal: Macroeconomics, 2018 This paper determines optimal public debt in a life cycle model with incomplete markets that matches the empirically observed variation in consumption, labor, and savings.
William B. Peterman, E. Sager
semanticscholar +1 more source