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  1. Bank regulation and sovereign risk
    a paradox
    Erschienen: May 2023
    Verlag:  CESifo, Munich, Germany

    This paper investigates the impact of banking prudential regulation on sovereign risk. We show that prudential regulation reduces sovereign risk and induces governments to spend more. As a result, countries with tight prudential regulation have lower... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 63
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    This paper investigates the impact of banking prudential regulation on sovereign risk. We show that prudential regulation reduces sovereign risk and induces governments to spend more. As a result, countries with tight prudential regulation have lower primary budget balances and accumulate more government debt over time. We find that prudential regulation reduces private debt, while paradoxically increasing government debt. We explore several explanations for this paradox. Our results suggest that prudential regulation enables governments to accumulate debt because they improve the nation's credit rating and its borrowing conditions in sovereign bond markets.

     

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/279183
    Schriftenreihe: CESifo working papers ; 10434 (2023)
    Schlagworte: banking regulation; fiscal policy; macroprudential policy; sovereign debt; sovereign risk
    Umfang: 1 Online-Ressource (circa 43 Seiten), Illustrationen
  2. Cognitive load of academic writing in L2 English vs. in L1 plus translation