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  1. Self-fulfilling debt dilution
    maturity and multiplicity in debt models
    Author: Aguiar, Mark; Amador, Manuel
    Published: May 30, 2018
    Publisher:  Federal Reserve Bank of Minneapolis, Minneapolis, MN

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 410 (565)
    Inter-library loan:
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Staff report / Research Division, Federal Reserve Bank of Minneapolis ; 565 (May 2018)
    Subjects: Sovereign debt; Self-fulfilling debt crises; Debt dilution; Multiple equilibria
    Scope: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  2. Self-Fulfilling debt crises with long stagnations
    Author: Ayres, João; Navarro, Gaston; Nicolini, Juan Pablo; Teles, Pedro
    Published: [2023]
    Publisher:  Board of Governors of the Federal Reserve System, [Washington, DC]

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 201
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: International finance discussion papers ; number 1370 (February 2023)
    Subjects: Self-fulfilling debt crises; sovereign default; multiplicity; stagnations
    Scope: 1 Online-Ressource (circa 61 Seiten), Illustrationen
  3. Self-fulfilling debt crises with long stagnations
    Author: Ayres, João; Navarro, Gaston; Nicolini, Juan Pablo; Teles, Pedro
    Published: February 2023
    Publisher:  Inter-American Development Bank, Department of Research and Chief Economist, [Washington, DC]

    We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on the Southern European crisis of the early 2010s and the Argentine default of 2001. The source of multiplicity is the one in Calvo (1988). Key for... more

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    Verlag (kostenfrei)
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    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 144
    Inter-library loan:
    No inter-library loan

     

    We assess the quantitative relevance of expectations-driven sovereign debt crises, focusing on the Southern European crisis of the early 2010s and the Argentine default of 2001. The source of multiplicity is the one in Calvo (1988). Key for multiplicity is an output process featuring long periods of either high growth or stagnation that we estimate using data for those countries. We find that expectations-driven debt crises are quantitatively relevant but state dependent, as they only occur during stagnations. Expectations are a major driver explaining default rates and credit spread differences between Spain and Argentina.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/289962
    Series: IDB working paper series ; no IDB-WP-1447
    Subjects: Self-fulfilling debt crises; Sovereign default; Multiplicity; Stagnations
    Scope: 1 Online-Ressource (circa 56 Seiten), Illustrationen