Search Results - subject_exact:"Schuldenkrise"

Sri Lanka's debt crisis : a crisis of governance

Dryden, Alex; Volz, Ulrich - 2026

This paper examines the origins, evolution, and resolution efforts surrounding Sri Lanka's 2022 sovereign debt default. Many defaults are triggered by sudden external shocks, but, in contrast, Sri Lanka's crisis was largely the result of prolonged domestic policy failures, including chronic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628624

From debt crises to financial crashes (and back) : a stock-flow consistent model for stock price bubbles

Grasselli, Matheus R.; Nguyen-Huu, Adrien - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643379

Optimal default in a small open economy : Senegal's hidden debt crisis

Coulibaly, Louphou; Ndiaye, Abdoulaye - 2026

Hidden public liabilities can reprice sovereign risk abruptly upon revelation. We study optimal default following such a revelation in a quantitative sovereign default model and apply the framework to Senegal's 2024 debt audit, which revised government debt upward by 50 percentage points of GDP....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015651315

Clientelism, institutions and sovereign default

Azzimonti, Marina; Mitra, Nirvana - 2026 - This version: March 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015636809

The ECB during the Euro Crisis and its future role in global disruption : with an appendix of recent articles

Trichet, Jean-Claude - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015668015

AI driven fiscal risk assessment in the Eurozone : a machine learning approach to public debt vulnerability

Mutai, Noah Cheruiyot; Farag, Karim; Ibeh, Lawrence; … - 2025

This study applied supervised machine learning algorithms to macro-fiscal panel data from 20 EU member states (2000-2024) to model and predict fiscal stress episodes in the Eurozone. Conventional frameworks for assessing public debt sustainability often rely on static thresholds and linear...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015547389

The distributional implications of the euro area crisis : evidence from macroeconomic adjustment in Greece and Portugal

2025

We study the social and distributional implications of the euro area (EA) sovereign debt crisis in countries that received external financial assistance for macroeconomic adjustments. Combining granular data from about one million survey interviews with households across euro area states carried...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015323006

A further examination of sovereign domestic and external debt defaults

Ghulam, Yaseen - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015371717

Why do firms extend trade credit? : the role of inventories

Fernandes, Filipa Da Silva; Guariglia, Alessandra; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015375516

Investment funds and euro disaster risk

Anaya, Pablo; Cera, Katharina; Georgiadis, Georgios; … - 2025

We document that compared to all other investor groups investment funds exhibit a distinctly procyclical behavior when financial-market beliefs about the probability of a euro-related, institutional rare disaster spike. In response to such euro disaster risk shocks, investment funds shed...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015339629

What makes an MDB an MDB? : southern-led multilateral banks and the sovereign debt crisis

Humphrey, Chris - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015190551

A Debt Crisis with Strategic Investors : Changes in Demand and the Role of Market Power

Alves Monteiro, Ricardo - 2025

This paper documents changes in investors' demand for sovereign debt during a debt crisis. Using a dataset containing individual bids on Portuguese debt auctions, I document that bid functions become more inelastic during the crisis. That is, investors require bigger drops in price to buy...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015328122

The impact of financial crises on industrial growth: lessons from the last 40 years

Madeira, Carlos - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015421181

The linkage between banking crisis and sovereign debt crisis : evidence from Ghana

Marfo-Ahenkorah, David; Asravor, Richard Kofi; Asare, … - 2025

This study investigates the effect of the recent Ghanaian banking crisis on the country's ongoing sovereign debt crisis. An Autoregressive Distributed Lag Model (ARDL) is adopted to estimate the immediate effects of Ghana's banking crisis on public debt levels using secondary data spanning the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471164

Sovereign risk mispricing and investor herding : MENA debt markets

Moustafa, Eman; El-Shal, Amira - 2025

In response to the scarce evidence regarding herd behaviour in emerging and frontier debt markets, this paper investigates the potential mispricing of MENA sovereign risk. We explore whether this mispricing results from international investor herding, where MENA debt assets are collectively...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471337

Public debt burden and crisis severity

Fernández-Gallardo, Álvaro; Payá, Ivan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015580766

Show one more version 1

Public debt burden and crisis severity

Fernández-Gallardo, Álvaro; Payá, Ivan - 2025

Book / Working Paper

Are bad governments a threat to sovereign defaults? : the effects of political risk on debt sustainability

Ajovalasit, Samantha; Consiglio, Andrea; Pagliardi, Giovanni - 2025

Political risk is a significant determinant of bond yields and economic growth in both developed and emerging markets and we develop a debt sustainability analysis model with both channels using a country ratings proxy of political risk. Political risk also affects a sovereign's willingness to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015406629

Government debt and sovereign wealth in the Global South

Landerretche, Oscar - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015409653

Fiscal-monetary policy mix : challenges facing the EU

Gnan, Ernest; Holzmann, Robert - 2025

Starting from the Tinbergen principle and four areas of economic policy, we argue that in practice economic policies each have multiple effects, rendering a clear and simple allocation of objectives and instruments to different policies and their responsible institutions complex. First, the case...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410549

Tax revolts and sovereign defaults

Arce, Fernando; Morgan, Jan; Werquin, Nicolas - 2025

Political crises often coincide with fiscal crises, with complex causal dynamics at play. We examine the interaction between tax revolts and sovereign risk using a quantitative structural model calibrated to Argentina. In the model, the government can be controlled by political parties with...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413438

Show one more version 1

Tax revolts and sovereign defaults

Arce, Fernando; Morgan, Jan; Werquin, Nicolas - 2024

Book / Working Paper

The role of earnings management and audit fees in non-financial companies during crises

Kyriakou, Maria I. - 2025

This study examines the mean difference and the indirect relationship between earnings management (measured by discretionary accruals) and audit fees. It spans the period from 2005 to 2020 for four countries in two pairs, namely Italy and Spain, and Germany and France. The investigation...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015413974

Banks and sovereigns : did adversity bring them closer?

Dungey, Mardi H.; Flavin, Thomas J.; Sheenan, Lisa - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015445593

The financial life cycle of European SMEs before, during and after crisis periods : what is the role of a country's financial system?

La Rocca, Maurizio; Fasano, Francesco; Staglianò, Raffaele - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015610224

Trade Dynamics in Sovereign Debt Crises

Asonuma, Tamon - 2025

Sovereign debt restructurings can have large impacts on trade, with a significant compression of imports and a more ambiguous effect on exports. We show that the magnitude of that impact depends on whether restructurings preempt a default or take place after payments have been missed, with the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612863

Egypt's external debt crisis : the role of debt management and maturity structure

Barbary, Mahmoud Magdy; Mohamed, Rania Osama - 2025

Egypt has experienced a sharp rise in external debt over the past decade, increasing from USD 55.8 billion in 2015 to over USD 165.3 billion by 2023. Despite maintaining a debt-to-GDP ratio within internationally accepted thresholds (approximately 45% in 2023), the country faces mounting...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015553052

Eurozone economic integration : historical developments and new challenges ahead

Bagliano, Fabio C.; Morana, Claudio - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015580774

Show one more version 1

Eurozone economic integration : historical developments and new challenges ahead

Bagliano, Fabio C.; Mattozzi, Andrea - 2024

Book / Working Paper

Would an earlier inception of OMT by the ECB have prevented the 2012 Greek default?

Mäder, Nicolas - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015482455

Seniority and sovereign default : the role of official multilateral lenders

Wicht, Adrien - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574327

Diversifying sovereign risk in the euro area : empirical analysis of different policy proposals

Castro, Christian; Estrada, Ángel; Dionis, Gonzalo … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574402

Knockin' on h(e)aven's door : financial crises and offshore wealth

Marchesi, Silvia; Marcolongo, Giovanna - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574573

Finanzierung öffentlicher Zukunftsinvestitionen nach dem Haushaltsurteil des Bundesverfassungsgerichts

Krebs, Tom - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015165970

When it rains, it pours : Mexico's bank nationalisation and the debt crisis of 1982

Flores Zendejas, Juan - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015055219

The IMF and the European debt crisis

James, Harold - 2024

This book explores the IMF's engagement in Europe in the aftermath of the 2008 global financial crisis. It explains the nature and consequences of the assistance provided to Greece, Ireland, Portugal, and Cyprus by the "troika" – the IMF, European Central Bank, and European Commission. It also...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015059709

Sovereign risk dynamics in the EU : the time varying relevance of fiscal and external (im)balances

Afonso, António; Alves, José; Monteiro, Sofia - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015063189

Show one more version 1

Sovereign risk dynamics in the EU : the time varying relevance of fiscal and external (im)balances

Afonso, António; Alves, José; Monteiro, Sofia - 2024

Book / Working Paper

External debt crisis & socio-economic fallout : evidence from the BRICS nations

Ayoub, Ajaz; Wani, Tahir Ahmad; Sultan, Abid - 2024

This paper aims to investigate how external debt influences selected socio-economic variables in a sample of the five biggest emerging nations of the world, i.e., the BRICS block from 1996 to 2020. The data was found to have cross-sectional dependence, which was addressed by using...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014584321

The Greek tragedy : narratives and imagined futures in the Greek sovereign debt crisis

Beckert, Jens; Arndt, H. Lukas R. - 2024

Between 2009 and 2015 Greece underwent a profound sovereign debt crisis that led to a serious political crisis in Europe and the restructuring of Greek debt. We argue that the prevalence of negative narratives about the future contributed to the changes in spreads of Greek bonds during the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014631643

Greece's economic odyssey : persistent challenges and pathways forward

Makantasi, Evmorfia; Valentis, Helias - 2024

Two years after the COVID-19 pandemic, the Greek economy seems to have overcome the turmoil of the pandemic crisis as well as that of the following energy crisis. Nevertheless, it would be wrong to assume that the Greek economy has returned to a sound state, since this was not really the case...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014636062

On the role of lenders in sovereign debt crises

Wicht, Adrien - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014546173

"Whatever it takes!" : how tonality of tv-news affected government bond yield spreads during the european debt crisis

Hirsch, Patrick; Feld, Lars P.; Köhler, Ekkehard A.; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014547139

Show one more version 1

"Whatever It Takes!" : how tonality of TV-news affected government bond yield spreads during the European debt crisis

Hirsch, Patrick; Feld, Lars P.; Köhler, Ekkehard A.; … - 2024

Book / Working Paper

The public-private wage gap in the euro area a decade after the sovereign debt crisis

Caballero, Víctor; Ghirelli, Corinna; Gómez, Ángel Luis - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015583524

Show one more version 1

The public-private wage gap in the euro area a decade after the sovereign debt crisis

Caballero, Víctor; Ghirelli, Corinna; Gómez, Ángel Luis - 2024

Book / Working Paper

Sovereign debt disclosure

Guler, Bulent; Önder, Yasin Kürşat; Taskin, Temel - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015077134

Persistence of the sovereign debt components and debt sustainability : some evidence for the US and Europe

Caporale, Guglielmo Maria; Martin-Valmayor, Miguel A.; … - 2024

This paper analyses the persistence and mean reversion properties of sovereign debt and its components by applying fractional integration methods to long runs of annual data starting in 1831 for the UK and the US, in 1862 for Italy and in 1881 for France and Germany, and ending in all cases in...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015077843

Only if you play by the norms! : insider norms and outsider involvement in Eurogroup and Eurogroup Working Group interaction during the sovereign debt crisis

Schilin, Alexander - 2024

Reflections on the sovereign debt crisis often portray the Eurogroup and the Eurogroup Working Group (EWG) as inaccessible for euro area outsiders. Yet, common wisdom suggests that Council representatives can circumvent exclusion due to differentiated integration (DI) by complying with insider...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014483782

Emerging markets bond index performance and sovereign default : the case of Ecuador

Zanoni, Wladimir; Díaz, Emily; Paredes, Jorge; … - 2024

This paper delves into the dynamic impact of Ecuador's 2008 sovereign debt default on the subsequent performance of the country's bonds, specifically as measured by the Emerging Markets Bond Index (EMBI). Through a blend of qualitative and quantitative analyses, the paper develops a framework...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014529939

Estimating the contribution of macroeconomic factors to sovereign bond spreads in the Euro area

Burriel, Pablo; Delgado-Téllez, Mar; Figueroa, Camila; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014512346

Preemptive austerity with rollover risk

Conesa, Juan Carlos; Kehoe, Timothy Jerome - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015573452

Show one more version 1

Preemptive austerity with rollover risk

Conesa, Juan Carlos; Kehoe, Timothy Jerome - 2024 - Revised March 2024

Edition: Revised March 2024

Book / Working Paper

Climatic oscillations and sovereign debt crises

Gregory, Richard P. - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015143909

Show one more version 1

Climatic Oscillations and Sovereign Debt Crises

Gregory, Richard P. - 2023

Book / Working Paper

Monetary power and vulnerability to sovereign debt crises : rethinking the global financial architecture

Lima, Karina Patrício Ferreira - 2024

This paper challenges the prevailing view in the sovereign debt literature by arguing that sovereign debt markets, in many respects, behave similarly to other credit markets. These markets are hierarchical rather than flat, inherently hybrid in nature, blending elements of public order and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015152671

Beyond fragmentation : unraveling the drivers of yield divergence in the euro area

Aguilar, Alicia - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015158318

Access to credit in a market downturn

Casu, Barbara; Chiaramonte, Laura; Croci, Ettore; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015098435

Show one more version 1

Access to credit in a market downturn

Casu, Barbara; Chiaramonte, Laura; Croci, Ettore; … - 2020

Book / Working Paper