Results 1 to 10 of about 5,650 (310)
Sovereign default network and currency risk premia [PDF]
Financial Innovation, 2023 We construct a sovereign default network by employing high-dimensional vector autoregressions obtained by analyzing connectedness in sovereign credit default swap markets.
Lu Yang, Lei Yang, Xue Cui
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African sovereign risk premia and international market assets: A relook under the COVID-19 outbreak [PDF]
HeliyonUsing the wavelet multiscale coherence technique, the paper examines the interdependences between global market assets, sovereign credit default swap (CDS) and yield-to-maturity on bond spread for African economies from January 2019 to March 2023.
Godfred Amewu +2 more
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Sovereign default: The role of expectations [PDF]
Journal of Economic Theory, 2015 En el modelo estándar de impago soberano, como en Aguiar y Gopinath (2006) o Arellano (2008), el impago está impulsado solo por los fundamentos. No hay un rol independiente para las expectativas. Mostramos que pequeñas variaciones de ese modelo son consistentes con múltiples equilibrios de tasas de interés, similares a los encontrados en Calvo (1988 ...
João Ayres +3 more
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Reputation and Sovereign Default [PDF]
Econometrica, 2018 This paper presents a continuous‐time model of sovereign debt. In it, a relatively impatient sovereign government's hidden type switches back and forth between a commitment type, which cannot default, and an opportunistic type, which can, and where we assume outside lenders have particular beliefs regarding how a commitment type should borrow for any ...
Amador, Manuel, Phelan, Christopher
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Repudiation and Repression: The Human Costs of Sovereign Default
Social Sciences, 2023 Sovereign default has myriad economic and political consequences. Existing research, however, has not explored the human costs of sovereign default, though some link the fiscal flexibility afforded by sovereign creditworthiness to improved human rights ...
Stephen Bagwell
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İktisat Politikası Araştırmaları Dergisi, 2021 Sovereign credit ratings have gained importance in financial markets. Sovereign ratings have the function of providing necessary information in a common language between market participants who need funds and investors.
Merve Kırkıl
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Sovereign Defaults in Court [PDF]
SSRN Electronic Journal, 2018 Abstract For centuries, defaulting governments were immune from legal action by foreign creditors. This paper shows that this is no longer the case. Building a dataset covering four decades, we find that creditor lawsuits have become an increasingly common feature of sovereign debt markets.
Schumacher, Julian +2 more
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Optimal Sovereign Default [PDF]
American Economic Journal: Macroeconomics, 2013 When is it optimal for a fully committed government to default on its legal repayment obligations? Considering a small open economy with domestic production risk and noncontingent government debt, we show that it is ex ante optimal to occasionally deviate from the legal repayment obligation and to repay debt only partially.
Klaus Adam, Michael Grill
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Definition and essence of the concept of «default» in scientific literature
Економіка, управління та адміністрування, 2023 The author of the proposed article researches that today default is a situation when the debtor refuses to fulfill his obligations to service the debt in full.
I.M.
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A new estimation technique of sovereign default risk
Central Bank Review, 2016 Using the fixed-point theorem, sovereign default models are solved by numerical value function iteration and calibration methods, which due to their computational constraints, greatly limits the models' quantitative performance and foregoes its country ...
Mehmet Ali Soytaş, Engin Volkan
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