Zobrazeno 1 - 10
of 53
pro vyhledávání: '"Aitor Erce"'
Sovereign debt restructurings are associated with declines in the growth of GDP, investment, bank credit to the private sector and capital flows. Our empirical findings show that the intensity of these losses depends on two aspects: whether the restr
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::7d060424ca222fd0dfeb1b1624963c16
https://doi.org/10.2139/ssrn.4326298
https://doi.org/10.2139/ssrn.4326298
Autor:
Stavros A. Zenios, Marialena Athanasopoulou, Edmund Moshammer, Andrea Consiglio, Aitor Erce, Angel Gavilan
Publikováno v:
Operations Research. 69:755-773
We model sovereign debt sustainability with optimal financing decisions under macroeconomic, financial, and fiscal uncertainty, with endogenous risk and term premia. Using a coherent risk measure we trade-off debt stock and flow risks subject to sust
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::ae684a7cbbb79ca9a30e1537840f3baf
https://doi.org/10.1287/opre.2020.2055
https://doi.org/10.1287/opre.2020.2055
Autor:
Aitor Erce
Publikováno v:
Capital Markets Law Journal. 15:284-297
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::2bb2a2ad18cc9f9d9a0c763ccc74fbae
https://doi.org/10.1093/cmlj/kmaa009
https://doi.org/10.1093/cmlj/kmaa009
Publikováno v:
The Review of International Organizations. 15:667-705
In response to the euro area crisis, policymakers took a gradual, incremental approach to official lending, at first relying on the blueprint followed by the International Monetary Fund, then developing their own crisis resolution framework. We descr
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::c1448bb869ebd939daec050362e116e8
https://doi.org/10.1007/s11558-020-09388-9
https://doi.org/10.1007/s11558-020-09388-9
Autor:
Aitor Erce
Publikováno v:
International Finance. 23:64-84
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::39a650e64363b7218bd93ee53ffb370a
https://doi.org/10.1111/infi.12358
https://doi.org/10.1111/infi.12358
This paper explores a natural connection between fiscal multipliers and foreign holdings of public debt. Although fiscal expansions can raise domestic economic activity through various channels, they can also have crowding-out effects if the resource
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::0b14c39ecf7db2b9b5e4bb111acce452
http://hdl.handle.net/10230/48735
http://hdl.handle.net/10230/48735
Publikováno v:
SSRN Electronic Journal.
We introduce a novel database on sovereign defaults that involve public debt instruments governed by domestic law. By systematically reviewing a large number of sources, we identify 134 default and restructuring events of domestic debt instruments, i
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::d1cb8a3312a4937e912d7b1047fa1161
https://doi.org/10.2139/ssrn.4176548
https://doi.org/10.2139/ssrn.4176548
Publikováno v:
Capital Markets Law Journal. 14:155-177
The introduction of collective action clauses in advanced economies’ sovereign bonds is an understudied phenomenon. An important concern is whether these clauses produce segmentation, pushing apart the price of those bonds issued with and without c
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::a06c58a8a9686bf902021964a26365dd
https://doi.org/10.1093/cmlj/kmz005
https://doi.org/10.1093/cmlj/kmz005
Publikováno v:
Federal Reserve Bank of Dallas, Globalization Institute Working Papers. 2020
In this paper we use data from the euro area to study episodes when sovereigns lose market access. We construct a detailed dataset with potential indicators of market access tensions, and evaluate their ability to forecast episodes when market access
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::e465ab1946351ed134fcb628baec75a4
https://doi.org/10.24149/gwp377
https://doi.org/10.24149/gwp377