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  1. The elusive costs of sovereign defaults
    Published: 2006
    Publisher:  Inter-American Development Bank, Research Dep., Washington, DC

    Few would dispute that sovereign defaults entail significant economic costs, including, most notably, important output losses. However, most of the evidence supporting this conventional wisdom, based on annual observations, suffers from serious... more

    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 144 (581)
    Inter-library loan:
    No inter-library loan

     

    Few would dispute that sovereign defaults entail significant economic costs, including, most notably, important output losses. However, most of the evidence supporting this conventional wisdom, based on annual observations, suffers from serious measurement and identification problems. To address these drawbacks, we examine the impact of default on growth by looking at quarterly data for emerging economies. We find that, contrary to what is typically assumed, output contractions precede defaults. Moreover, we find that the trough of the contraction coincides with the quarter of default, and that output starts to grow thereafter, indicating that default episode seems to mark the beginning of the economic recovery rather than a further decline. This suggests that, whatever negative effects a default may have on output, those effects result from anticipation of a default rather than the default itself.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/51519
    Series: Working paper / Inter-American Development Bank, Research Department ; 581
    Subjects: Staatsbankrott; Öffentliche Schulden; Soziale Kosten; Wirkungsanalyse; Wirtschaftswachstum; Schätzung; Schwellenländer
    Scope: Online-Ressource, (38 S.), graph. Darst.
  2. Sovereign debt crises and credit to the private sector
    Published: Dec. 2006
    Publisher:  Federal Reserve Bank of San Francisco, San Francisco, Calif.

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    W 840 (2006.21)
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers series / Federal Reserve Bank of San Francisco ; 2006,21
    Subjects: Internationale Staatsschulden; Staatsbankrott; Kreditrationierung; Liquiditätsbeschränkung; Schwellenländer; Welt
    Scope: Online-Ressource, 50 S., Text
  3. Three essays in financial economics
    Author: Martinez, Jose Vicente
    Published: 2006

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    B 377545
    Inter-library loan:
    Unlimited inter-library loan, copies and loan
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Dissertation
    Format: Print
    Subjects: Finanzanalyse; Börsenkurs; Kapitaleinkommen; Betriebliche Altersversorgung; Portfolio-Management; Theorie; USA; Öffentliche Schulden; Staatsbankrott; Internationale Wirtschaftsbeziehungen; Sanktion; Theorie; Welt
    Scope: VII, 147 S.
    Notes:

    Kopie, ersch. im Verl. UMI, Ann Arbor, Mich. - Enth. 3 Beitr

    Zugl.: New York, NY, Columbia Univ., Graduate School of Arts and Sciences, 2006