Results 81 to 90 of about 1,040 (123)
While the relationship between volatility and credit risk is central to much of the literature on finance and banking, it has been largely neglected in empirical macro studies on sovereign defaults.
Luis Catão, Bennett Sutton
core
Serial Defaults, Serial Profits: Returns to Sovereign Lending in Habsburg Spain, 1566-1600 [PDF]
Philip II of Spain accumulated debts equivalent to 60% of GDP. He also defaulted four times on his short-term loans, thus becoming the first serial defaulter in history.
Voth, Hans-Joachim, Drelichman, Mauricio
core
This dissertation consists of three chapters on sovereign default. Thematically, they are linked by their examination of how sovereign risk influences government policy, equilibrium allocations, and welfare. Chapter 1 investigates the optimal currency denomination in sovereign bonds. Chapter 2 and 3 delve into self-fulfilling debt crises.
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No pay, no debt: domestic costs of sovereign defaults
Fil: Manzano Quiroga, Jeremías Ángel. Universidad de San Andrés. Departamento de Economía; Argentina.This thesis investigates the domestic economic consequences of sovereign defaults by analyzing their impact on key macroeconomic variables, including GDP
Manzano Quiroga, Jeremías Ángel
core
« SOVEREIGN DEBT AND DEFAULT »
Séminaire de philosophie politique normative, 2019 openaire +2 more sources
Sovereign defaults by currency denomination
Journal of International Money and Finance, 2014 This paper explores the drivers of sovereign defaults in 100 countries over the period 1996-2012. We build a new data set of sovereign defaults and find that default events on local and foreign currency bonds are equally likely. However, governments default under different economic and financial conditions depending on the currency in which bonds are ...
Jeanneret, Alexandre, Souissi, Slim
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Sovereign Defaults and Expropriations: Empirical Regularities
Policy Research Working Papers, 2012 This paper uses a large cross-country dataset to empirically examine factors associated with sovereign defaults on external private creditors and expropriation of foreign direct investments in developing
Maya Eden, Aart Kraay
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Sovereign Debt Without Default Penalties [PDF]
SSRN Electronic Journal, 2006 Summary: We develop a theory of sovereign borrowing where default penalties are not implementable. We show that when debt is held by both domestic and foreign agents, the median voter might have an interest in serving it. Our theory has important practical implications regarding (a) the role of financial intermediaries in sovereign lending, (b) the ...
Guembel, Alexander, Sussman, Oren
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GDP-linked Bonds and Sovereign Default [PDF]
SSRN Electronic Journal, 2014 In this paper we explore the ways in which GDP-linked bonds can stabilize sovereign debt dynamics and reduce the probability of default. GDP-linked bonds provide cash payments that vary positively with the level of GDP, thereby helping to stabilize the debt-to-GDP ratio.
Barr, David +2 more
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