Results 71 to 80 of about 1,040 (123)
Sovereign Defaults and Banking Crises [PDF]
, 2012 Episodes of sovereign default feature three key empirical regularities in connection with the banking systems of the countries where they occur: (i) sovereign defaults and banking crises tend to happen together, (ii) commercial banks have substantial ...
Sosa-Padilla, Cesar
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The sustainable debts of Philip II: A reconstruction of Castile's fiscal position, 1566-1596 [PDF]
The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. We reassess the fiscal position of Habsburg Castile, deriving comprehensive estimates of revenue, debt, and expenditure from new archival data.
Joachim Voth, Mauricio Drelichman
core +2 more sources
Sovereign defaults and banking crises
Episodes of sovereign default feature three key empirical regularities in connection with the banking systems of the countries where they occur: (i) sovereign defaults and banking crises tend to happen together, (ii) commercial banks have substantial ...
Sosa-Padilla, César
core +1 more source
Why Does Sovereign Risk Differ for Domestic and Foreign Investors? Evidence from Scandinavia, 1938–1948 [PDF]
Recent theoretical models suggest that the costs governments face when defaulting on their domestic and external debt may differ considerably. This paper examines if this proposed cost difference is reflected in sovereign risk spreads across domestic and
Waldenström, Daniel
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Asymmetric Shocks, Long-term Bonds and Sovereign Default
We present a sovereign default model with asymmetric shocks and long-term bonds, and solve the model using discrete state dynamic programming. As result, our model matches the Argentinean economy over period 1993Q1-2001Q4 quite well.
Zhu, Junjun, Xie, Shiyu
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Greek sovereign defaults in retrospect and prospect
, 2017 This article focuses on and critically reviews the four Greek sovereign defaults (1827, 1843, 1893 and 1932) and puts them into historical perspective. The argument is that each and every one of the defaults was not an isolated episode in the turbulent ...
Zouboulakis, Michel +1 more
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Democratization’s Risk Premium: Partisan and Opportunistic Political Business Cycle Effects on Sovereign Ratings in Developing Countries [PDF]
We use partisan and opportunistic political business cycle (“PBC”) considerations to develop a framework for explaining election-period decisions by credit rating agencies (“agencies”) publishing developing country sovereign risk-ratings (“ratings”).
Burkhard N. Schrage +2 more
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Collective Action Clauses in International Sovereign Bond Contracts – Whence the Opposition?
In the debate on strengthening the international financial architecture, which peaked in 2002 after a series of emerging market sovereign debt crises, the universal adoption of collective action clauses (CACs) was the most promising reform proposal ...
Soenke Haeseler
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Sovereign Defaults and Banking Crises
, 2010 Episodes of sovereign default feature three key empirical regularities in connection with the banking systems of the countries where they occur: (i) sovereign defaults and banking crises tend to happen together, (ii) commercial banks have substantial ...
César Sosa Padilla +10 more
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Maturity, Indebtedness, and Default Risk [PDF]
We present a novel and tractable model of long-term sovereign debt. We make two sets of contributions. First, on the substantive side, using Argentina as a test case we show that unlike one-period debt models, our model of long-term sovereign debt is ...
Satyajit Chatterjee, Burcu Eyigungor
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