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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
Debt in emerging market and developing economies (EMDEs) is at its highest level in half a century. In about nine out of 10 EMDEs, debt is higher now than it was in 2010 and, in half of the EMDEs, debt is more than 30 percentage points of gross domestic product higher. Historically, elevated...
Persistent link: https://www.econbiz.de/10013373848
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Wirtschaftspolitische Antworten auf die Corona-Krise: Liquidität hat Vorrang!
Grömling, Michael; Hüther, Michael; Beznoska, Martin; … - 2020
Die Corona-Krise ist eine globale Herausforderung. Die Ausbreitung von COVID-19 stellt gesamtwirtschaftlich gesehen sowohl einen negativen Nachfrageschock als auch einen negativen Angebotsschock dar. Es kommt zu merklichen Exportausfällen nach China und in andere betroffene Volkswirtschaften....
Persistent link: https://www.econbiz.de/10012175071
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No abrupt end to the corona shock: How German companies assess the future of the economy
Bardt, Hubertus; Grömling, Michael - In: IW-Trends - Vierteljahresschrift zur empirischen … 47 (2020) 2, pp. 21-41
The corona pandemic is likely to lead to the most severe economic slump in Germany since the second world war. The …
Persistent link: https://www.econbiz.de/10012230101
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The International Monetary Fund: 70 years of reinvention
Reinhart, Carmen M.; Trebesch, Christoph - 2015
A sketch of the International Monetary Fund's 70-year history reveals an institution that has reinvented itself over time along multiple dimensions. This history is primarily consistent with a "demand driven" theory of institutional change, as the needs of its clients and the type of crisis...
Persistent link: https://www.econbiz.de/10011498368
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Coping with Disasters: Two Centuries of International Official Lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012263145
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Coping with disasters: Two centuries of international official lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Official (government-to-government) lending is much larger than commonly known, often surpassing total private cross-border capital flows, especially during disasters such as wars, financial crises and natural catastrophes. We assemble the first comprehensive long-run dataset of official...
Persistent link: https://www.econbiz.de/10012234816
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The International Monetary Fund: 70 Years of Reinvention
Reinhart, Carmen M.; Trebesch, Christoph - 2015
A sketch of the International Monetary Fund’s 70-year history reveals an institution that has reinvented itself over time along multiple dimensions. This history is primarily consistent with a “demand driven” theory of institutional change, as the needs of its clients and the type of...
Persistent link: https://www.econbiz.de/10011431217
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China's overseas lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2019
Compared with China's dominance in world trade, its expanding role in global finance is poorly documented and … understood. Over the past decades, China has exported record amounts of capital to the rest of the world. Many of these financial … flows are not reported to the IMF, the BIS or the World Bank. "Hidden debts" to China are especially significant for about …
Persistent link: https://www.econbiz.de/10012026888
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China’s Overseas Lending
Horn, Sebastian; Reinhart, Carmen M.; Trebesch, Christoph - 2020
Compared with China's pre-eminent status in world trade, its role in global finance is poorly understood. This paper … World Bank. These "hidden debts" distort policy surveillance, risk pricing, and debt sustainability analyses. Since China …
Persistent link: https://www.econbiz.de/10012263138
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Sovereign Bonds since Waterloo
Meyer, Josefin; Reinhart, Carmen M.; Trebesch, Christoph - 2019
This paper studies external sovereign bonds as an asset class. We compile a new database of 220,000 monthly prices of foreign-currency government bonds traded in London and New York between 1815 (the Battle of Waterloo) and 2016, covering 91 countries. Our main insight is that, as in equity...
Persistent link: https://www.econbiz.de/10012263139