Crisis Debt And Default
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Sovereign Debt
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Author : Rob Quail
language : en
Publisher: John Wiley & Sons
Release Date : 2011-02-25
Sovereign Debt written by Rob Quail and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-25 with Business & Economics categories.
An intelligent analysis of the dangers, opportunities, and consequences of global sovereign debt Sovereign debt is growing internationally at a terrifying rate, as nations seek to prop up their collapsing economies. One only needs to look at the sovereign risk pressures faced by Greece, Spain, and Ireland to get an idea of how big this problem has become. Understanding this dilemma is now more important than ever, that's why Robert Kolb has compiled Sovereign Debt. With this book as your guide, you'll gain a better perspective on the essential issues surrounding sovereign debt and default through discussions of national defaults, systemic risk, associated costs, and much more. Historical studies are also included to provide a realistic framework of reference. Contains up-to-date research and analysis on sovereign debt from today's leading practitioners and academics Details the dangers of defaults and their associated systemic risks Explores the past, present, and future of sovereign debt The repercussions of a national default are all-encompassing as global markets are intricately interwoven in the modern world. Sovereign Debt examines what it will take to overcome the challenges of this market and how you can deal with the uncertainty surrounding it.
Debt In Times Of Crisis
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Author : Thomas Poufinas
language : en
Publisher: Springer Nature
Release Date : 2021-08-27
Debt In Times Of Crisis written by Thomas Poufinas and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-08-27 with Business & Economics categories.
Debt, private and public, and in particular excessive debt, has been debated to be one of the root causes of economic crises. At the same time, economic crises are believed to lead to an increase of debt. This book, through a range of contributors, explores certain constituents of an economy and attempts to identify their contribution to debt (public and private), especially in times of crisis; namely, bonds, tariffs, social security and non-performing loans (NPLs). Furthermore, it captures the (implicit) impact of the demography on debt through tariffs and social security and investigates the effect of quantitative easing/purchase programs and as well as crises on debt. In addition, the (cost of the) reserve that a state may want to provision for, in order to secure its economy from defaulting within a certain time horizon, is also addressed and calculated. This calculation offers an alternative valuation, or pricing, of (excess) debt (default protection). This book aims to offer a comparative study of countries – especially those with a history of excessive debt - and intends to realize whether an economic crisis can genuinely deteriorate debt, or whether the debt unsustainability is preexisting to the crisis. It will be relevant to students and researchers interested in economic policy and growth.
Debt Defaults And Lessons From A Decade Of Crises
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Author : Federico Sturzenegger
language : en
Publisher: MIT Press
Release Date : 2007-01-05
Debt Defaults And Lessons From A Decade Of Crises written by Federico Sturzenegger and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-01-05 with Business & Economics categories.
Detailed case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a comprehensive discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises. The debt crises in emerging market countries over the past decade have given rise to renewed debate about crisis prevention and resolution. In Debt Defaults and Lessons from a Decade of Crises, Federico Sturzenegger and Jeromin Zettelmeyer examine the facts, the economic theory, and the policy implications of sovereign debt crises. They present detailed case histories of the default and debt crises in seven emerging market countries between 1998 and 2005: Russia, Ukraine, Pakistan, Ecuador, Argentina, Moldova, and Uruguay. These accounts are framed with a comprehensive overview of the history, economics, and legal issues involved and a discussion from both domestic and international perspectives of the policy lessons that can be derived from these experiences. Sturzenegger and Zettelmeyer examine how each crisis developed, what the subsequent restructuring encompassed, and how investors and the defaulting country fared. They discuss the new theoretical thinking on sovereign debt and the ultimate costs entailed, for both debtor countries and private creditors. The policy debate is considered first from the perspective of policymakers in emerging market countries and then in terms of international financial architecture. The authors' surveys of legal and economic issues associated with debt crises, and of the crises themselves, are the most comprehensive to be found in the literature on sovereign debt and default, and their theoretical analysis is detailed and nuanced. The book will be a valuable resource for investors as well as for scholars and policymakers.
Why Not Default
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Author : Jerome Roos
language : en
Publisher: Princeton University Press
Release Date : 2019-02-12
Why Not Default written by Jerome Roos and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-12 with Business & Economics categories.
Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone--including the dramatic capitulation of Greece's short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance.
Crisis Debt And Default
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Author : Philip Ernstberger
language : en
Publisher: Springer
Release Date : 2016-04-29
Crisis Debt And Default written by Philip Ernstberger and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.
Philip Ernstberger analyses in his three essays different topics of financial pathologies. Thereby, changes in fundamentals as well as information are considered as the driving force for the behavior of speculators and investors. The first essay deals with currency crises, in which the central bank, through setting the interest rate, steers the economy and defends against speculators. The second essay examines the effects of a rating and possible biases on the coordination of investors and the pricing of debt. In the third essay the author uses forecasts of default probabilities and implied market default probabilities to infer the weighing of information by investors.
How Debt And Default Affect You
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Author : Philip Wolny
language : en
Publisher: The Rosen Publishing Group, Inc
Release Date : 2012-12-15
How Debt And Default Affect You written by Philip Wolny and has been published by The Rosen Publishing Group, Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-15 with Juvenile Nonfiction categories.
This informed and easy-to-follow volume defines and describes debt and default and how they affect the average person and his or her family. Causes and effects of different kinds of debt are explored, as well as the consequences, such as bankruptcy. Other topics that are discussed include the U.S. national debt debate, paying off interest, the debt ceiling, government shutdowns, and the European debt crisis. The economic crises confronting U.S. states and cities are also examined, along with the effects on emergency and essential services and education. Students learn about the emotional and physical tolls debt and bankruptcy can take on families. Readers also investigate ways to attack the symptoms of debt, reset priorities, learn about financial planning, and help to positively influence their family and communitys futures.
Inequality Leverage And Crises
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Author : Mr.Michael Kumhof
language : en
Publisher: International Monetary Fund
Release Date : 2013-12-17
Inequality Leverage And Crises written by Mr.Michael Kumhof and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-12-17 with Business & Economics categories.
The paper studies how high household leverage and crises can arise as a result of changes in the income distribution. Empirically, the periods 1920-1929 and 1983-2008 both exhibited a large increase in the income share of high-income households, a large increase in debt leverage of the remainder, and an eventual financial and real crisis. The paper presents a theoretical model where higher leverage and crises arise endogenously in response to a growing income share of high-income households. The model matches the profiles of the income distribution, the debt-to-income ratio and crisis risk for the three decades prior to the Great Recession.
The Costs Of Default
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Author : Anatole Kaletsky
language : en
Publisher:
Release Date : 1985
The Costs Of Default written by Anatole Kaletsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Business & Economics categories.
Predicting Sovereign Debt Crises
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Author : Paolo Manasse
language : en
Publisher: International Monetary Fund
Release Date : 2003-11-01
Predicting Sovereign Debt Crises written by Paolo Manasse and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-01 with Business & Economics categories.
We develop an early-warning model of sovereign debt crises. A country is defined to be in a debt crisis if it is classified as being in default by Standard & Poor's, or if it has access to nonconcessional IMF financing in excess of 100 percent of quota. By means of logit and binary recursive tree analysis, we identify macroeconomic variables reflecting solvency and liquidity factors that predict a debt-crisis episode one year in advance. The logit model predicts 74 percent of all crises entries while sending few false alarms, and the recursive tree 89 percent while sending more false alarms.
The Dynamics Of Sovereign Debt Crises And Bailouts
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Author : Mr.Francisco Roch
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-06
The Dynamics Of Sovereign Debt Crises And Bailouts written by Mr.Francisco Roch and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-06 with Business & Economics categories.
Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspot"-coordinated buyers strike. We introduce a bailout agency, and characterize the minimal actuarially fair intervention that guarantees the no-buyers-strike fundamental equilibrium, relying on the market for residual financing. The intervention makes it cheaper for governments to borrow, inducing them borrow more, leaving default probabilities possibly rather unchanged. The maximal backstop will be pulled precisely when fundamentals worsen.