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How to Handle the Fiscal Crisis in Greece? Empirical Evidence Based on a Survey of Economic Experts

Potrafke, Niklas - 2019

We asked economic experts polled by the CESifo World Economic Survey how to handle the fiscal crisis in Greece in the …

Persistent link: https://www.econbiz.de/10012864937

External sovereign debt in a monetary union: Bailouts and the role of corruption

Achury, Carolina; Koulovatianos, Christos; Tsoukalas, … - 2011

We build a tractable stylized model of external sovereign debt and endogenous international interest rates. In corrupt economies with rent-seeking groups stealing public resources, a politico-economic equilibrium is characterized by permanent fiscal impatience which leads to excessive issuing of...

Persistent link: https://www.econbiz.de/10010277405

How to Escape from the Debt Trap : Lessons from the Past

Mayer, Thomas; Schnabl, Gunther - 2021

Rising public debt everywhere has raised the question of how to reduce debt again in the future. High public debt also seems to be an impediment for the exit of central banks from ultra-low interest rates and quantitative easing. Historical precedents and proposals have included austerity,...

Persistent link: https://www.econbiz.de/10013227606

Credibility for Sale

Dellas, Harris; Niepelt, Dirk - 2013

debt composition choices of the type observed during the recent sovereign debt crisis in Europe. …

Persistent link: https://www.econbiz.de/10010318813

Sovereign Debt Restructurings: Preemptive or Post-Default

Asonuma, Tamon; Trebesch, Christoph - 2015

Sovereign debt restructurings can be implemented preemptively - prior to a payment default. We code a comprehensive new dataset and find that preemptive restructurings (i) are frequent (38% of all deals 1978-2010), (ii) have lower haircuts, (iii) are quicker to negotiate, and (iv) see lower...

Persistent link: https://www.econbiz.de/10011388281

How to Handle the Fiscal Crisis in Greece? Empirical Evidence Based on a Survey of Economic Experts

Mosler, Martin; Potrafke, Niklas; Reischmann, Markus - 2019

We asked economic experts polled by the CESifo World Economic Survey how to handle the fiscal crisis in Greece in the …

Persistent link: https://www.econbiz.de/10012052883

Collective Memories on the 2010 European Debt Crisis

Arnemann, Laura; Konrad, Kai A.; Potrafke, Niklas - 2021

We examine whether collective memories on the aid&reform programs chosen to handle the 2010 European debt crisis differ … the programs in different manners; indicating biases for assessments of how the crisis outcomes are perceived in borrower … and lender countries. Nation-serving biases may well explain if the European debt crisis has reduced the sense of …

Persistent link: https://www.econbiz.de/10013250727

Public Finances Solvency in the Euro Area : True or False?

Afonso, António; Coelho, Jose Carlos - 2022

We assess public finances solvency for Euro Area countries using quarterly data between 1999Q1 and 2020Q4. Through a country-by-country analysis, the answer to the title question is true. For most countries, (i) the primary budget balance reacts positively to the lagged public debt ratio and...

Persistent link: https://www.econbiz.de/10014076999

Creating a Euro Area Safe Asset Without Mutualizing Risk (Much)

Leandro, Alvaro - 2019

This paper explains and evaluates three proposals to create "safe assets" for the euro area based on sovereign bonds, in which sovereign risk is limited through diversification and some form of seniority. These assets would be held by banks and other financial institutions, replacing...

Persistent link: https://www.econbiz.de/10012865169

Domestic Banks as Lightning Rods? Home Bias and Information During the Eurozone Crisis

Saka, Orkun - 2019

European banks have been criticized for holding excessive domestic government debt during the recent Eurozone crisis … covering the entire timeline of the Eurozone crisis, I first re-confirm that the crisis led to the reallocation of sovereign …

Persistent link: https://www.econbiz.de/10012859050