Similar Search Results

Sovereign bond prices, haircuts and maturity

Niepelt, Dirk - 2017

perceived default risk, bond prices, and haircuts by maturity. … than those on debt of longer maturity. In a standard asset pricing model, we show that increasing short-run default risk in …

Persistent link: https://www.econbiz.de/10012112063

Sovereign bond prices, haircuts and maturity

Niepelt, Dirk - 2022

We document that creditor losses ("haircuts") during sovereign debt restructurings vary across debt maturity. In our …

Persistent link: https://www.econbiz.de/10013461499

The Debt-Growth Nexus in Poor Countries: A Reassessment

Presbitero, Andrea F. - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-30, pp. 1-28

The paper investigates the relationship between external debt and economic growth, focusing on the role played by the policy and institutional framework. Results for a panel of 114 developing countries show that the debt-growth nexus depends on institutions and policies. The Debt-Laffer curve...

Persistent link: https://www.econbiz.de/10010298614

Debt Maturity without Commitment

Niepelt, Dirk - 2008

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped … interior maturity structure with positive gross positions and a shortening of the maturity structure when debt issuance is high …

Persistent link: https://www.econbiz.de/10011430074

The Impact of Political Risk on Sovereign Bond Spreads - Evidence from Latin America

Moser, Christoph - 2007

cabinet reshuffles affecting the ministry of finance or economics are perceived by sovereign bond holders in twelve Latin … American countries from 1992 to 2005. We find that such political news instantaneously increases bond spreads. Furthermore …

Persistent link: https://www.econbiz.de/10010296045

What “hides” behind sovereign debt ratings?

Afonso, António; Gomes, Pedro; Rother, Philipp - 2007

international rating agencies, for the period 1995-2005. We employ panel estimation and random effects ordered probit approaches to …

Persistent link: https://www.econbiz.de/10011604757

Griechenland - zwischen Insolvenz und Schuldenerlass

Fiedler, Salomon; Kooths, Stefan - In: Wirtschaftsdienst 95 (2015) 9, pp. 609-613

Der griechische Staat hat von seinen europäischen Partnern ein drittes Hilfspaket erhalten. Neben der Frage, ob der griechischen Regierung die Umsetzung der dabei vereinbarten Reformen zugetraut werden kann, gilt die weiterhin hohe Staatsverschuldung als größte Hypothek für die ökonomische...

Persistent link: https://www.econbiz.de/10011773212

The debt-growth nexus in poor countries: a reassessment

Presbitero, Andrea F. - 2007

estimation of a growth model, with a panel of 121 developing countries, supports a negative and linear relationship between past …

Persistent link: https://www.econbiz.de/10010295225

The debt-growth nexus in poor countries: a reassessment

Presbitero, Andrea F. - 2006

estimation of a growth model, with a panel of 121 developing countries, supports a negative and linear relationship between past …

Persistent link: https://www.econbiz.de/10010296007

Modelling monetary and fiscal governance in the wake of the sovereign debt crisis in Europe

Herzog, Bodo - In: Economies 4 (2016) 2, pp. 1-11

This paper analyzes different government debt relief programs in the European Monetary Union. I build a model and study different options ranging from debt relief to the European Stability Mechanism (ESM). The analysis reveals the following: First, patient countries repay debt, while impatient...

Persistent link: https://www.econbiz.de/10011708718