Results 91 to 100 of about 1,040 (123)
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2019
This chapter begins by defining sovereign default. It proceeds to untangle several common forms of default, including unilateral and negotiated default, and default that results in principal haircuts and payment reprofiling, and offers a clear taxonomy of default, using real-world examples when needed.
Julianne Ams +3 more
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This chapter begins by defining sovereign default. It proceeds to untangle several common forms of default, including unilateral and negotiated default, and default that results in principal haircuts and payment reprofiling, and offers a clear taxonomy of default, using real-world examples when needed.
Julianne Ams +3 more
openaire +1 more source
Tax Revolts and Sovereign Defaults
SSRN Electronic JournalPolitical crises often coincide with fiscal crises, with complex causal dynamics at play. We examine the interaction between tax revolts and sovereign risk using a quantitative structural model calibrated to Argentina. In the model, the government can be controlled by political parties with different preferences for redistribution.
Arce, Fernando +2 more
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Inflation and Sovereign Default [PDF]
IMF Staff Papers, 2000 Recent research has highlighted the role that the government budget constraint plays in determining the consumer price level. According to the fiscal approach to price determination, prices adjust so that the discounted value of future real government primary surpluses equals the current real value of public debt.
TURALAY KENC +2 more
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Sovereign Defaults and Democracy
Comparative Economic Studies, 2018This paper examines the effect of state default on political regime and shows that state defaults are associated with autocratic polity changes. Using a dataset of 105 countries from 1824 to 2004, we find that a state default leads to a statistically significant decline in the level of democracy, as measured by the Polity IV index.
Antonis Adam, Kostas Karanatsis
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Journal of International EconomicsThis folder contains the required files to replicate the results of the paper "Clustered Sovereign Defaults". Check the readme file for instructions.THIS DATASET IS ARCHIVED AT DANS/EASY, BUT NOT ACCESSIBLE HERE.
Singh, A (via Mendeley Data)
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Identifying Sovereign Defaults
2014Chapter 1 examines the key concepts used throughout the book. This chapter discusses why the notion of “creditworthiness” is better suited than those of “solvency” and “bankruptcy” for explaining sovereign risk and goes on to show that the risk of sovereign default depends on the country’s ability and willingness to pay. Next, Chap.
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The politics of sovereign defaults [PDF]
, 2010 In this article, we study the interplay between political factors and default decisions. First, we survey two branches of theoretical studies. One shows that governments may be willing to repay their debt because it is in the best interest of local agents with political power.
Juan Carlos Hatchondo, Leonardo Martinez
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On wars, sanctions, and sovereign default
Journal of Monetary Economics, 2022Javier Bianchi, Cesar Sosa-Padilla
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Democracies and sovereign default
2012Sovereign defaults are a relatively common feature of (international) financial markets. They highlight the credibility problem in lending to governments: Creditors have no feasible means to enforce repayment of debts. Nevertheless, lending to countries takes place.
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2014
Chapter 3 investigates how some investors have been able to interfere with the debtor’s economic policy by insisting that measures be taken to reduce the risk of default in the short and medium term. Such interference can be direct or may be more subtle.
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Chapter 3 investigates how some investors have been able to interfere with the debtor’s economic policy by insisting that measures be taken to reduce the risk of default in the short and medium term. Such interference can be direct or may be more subtle.
openaire +1 more source