Similar Search Results

How to handle the fiscal crisis in Greece? : empirical evidence based on a survey of economic experts

Mosler, Martin; Potrafke, Niklas; Reischmann, Markus Josef - 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/10012050691

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/10009240852

Sovereign default risk and banks in a monetary union

Uhlig, Harald - 2013 - This revision: August 12, 2013

This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...

Persistent link: https://www.econbiz.de/10009786077

Explosive target balances

Potrafke, Niklas; Reischmann, Markus Josef - 2013

Using the new unit root test by Phillips et al. (2011) we show that the Target balances of the German Bundesbank have been exploding from the beginning of 2009 to the beginning of 2013. By implementing a full-allotment policy and reducing the required minimum quality of collaterals in October...

Persistent link: https://www.econbiz.de/10009764406

How to handle the crisis in Greece? : empirical evidence based on a survey of economics experts

Potrafke, Niklas; Reischmann, Markus Josef - 2016

crisis in Greece. 61.9% of the experts surveyed were not in favour of Greece exiting the Eurozone in the course of the …

Persistent link: https://www.econbiz.de/10011452844

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/10012514525

Oil and vinegar : a positive fiscal theory of the Euro crisis

Blankart, Charles B. - 2013

Grauwe, 2006). This optimism is, however, not warranted for the euro. The euro has now been in a crisis for more than three … years and a self-correcting mechanism leading out of the crisis is not in sight. The reason is that the euro union does not …, this being the essence of the euro crisis. Therefore the governments should withdraw and return to an economic union …

Persistent link: https://www.econbiz.de/10010192073

Credibility for sale

Ntellas, Charēs; Niepelt, Dirk - 2013

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

Persistent link: https://www.econbiz.de/10009772971

Fiscal delegation in a monetary union with decentralized public spending

Basso, Henrique S.; Costain, James - 2016

In a monetary union, the interaction between several governments and a single central bank is plagued by several sources of deficit bias, including common pool problems. Each government has strong preferences over local spending and taxation but suffers only part of the costs of union-wide...

Persistent link: https://www.econbiz.de/10011434438

The sovereign default problem in the Eurozone : an insurance-based approach

Arnold, Nadjeschda Katharina; Rees, Ray - 2015

This paper argues that the Eurozone crisis stems from a risk management failure in the Eurosystem's design, and that …

Persistent link: https://www.econbiz.de/10010533082