Sovereign debt

Continued part 1, part 2 of ebook "Bank strategy, governance and ratings" provides readers with contents including: the information content of sovereign watchlist and outlook - S&P versus Moody’s; errors in individual risk tolerance; attitudes, personality factors and household debt decisions - a study of consumer credit; the business of clearing cash equities in europe: market dynamics and trends;

175p tuongnhuoclan 27-11-2023 12 5   Download

Ebook "Sovereign default risk valuation: Implications of debt crises and bond restructurings" shows why investors should reckon with similar credit events in the future. Insights gained from recent restructurings inspire the design of a valuation model for sovereign bonds. Using the distinction between hard and soft restructurings, the model draws parallels to the concepts of face value and market value recovery.

261p loivantrinh 29-10-2023 6 4   Download

Continued part 1, part 2 of ebook "Handbook of international economics (Volume 4)" provides readers with contents including: Chapter 6 - International trade agreements; Chapter 7 - International prices and exchange rates; Chapter 8 - Exchange rates and interest parity; Chapter 9 - Assessing international efficiency; Chapter 10 - External adjustment, global imbalances, valuation effects; Chapter 11 - Sovereign debt; Chapter 12 - International financial crises;...

432p dangsovu 20-10-2023 5 4   Download

The study finds evidence in support of a non-linear relationship between sovereign debt accumulation and growth in Zambia. With regards to the debt-threshold effect, the tipping point for Zambia is around 40 percent of debt-to-GDP, at this point, the positive effect of debt on economic growth becomes negative. Far more importantly, policy recommendations are prescribed from these study findings.

10p lazzaro 30-12-2021 8 0   Download

The recent global financial crisis and the subsequent sovereign debt crisis of the Eurozone peripheral countries have generated historic levels of volatility and instability in the financial markets. In particular, during the sovereign debt crisis market operators have begun to focus on the so-called “redenomination risk”, that is the hypothesis of exit from the EMU (Euro Monetary Union) by one or more countries and the consequent redenomination of their debt in the past national currency.

30p nat_qb73 21-02-2021 15 2   Download

– The authors apply a time-shifted difference-in-differences strategy to evaluate the effects of this intervention. The date of each country’s decision to participate in the program is used as one treatment point while the date of the completion of the debt relief program is used as another treatment point. The exercise compares different economic outcomes such as domestic and foreign investment, schooling, and employment of the treated observations to the counterfactual of untreated country-years.

19p nguathienthan5 03-06-2020 11 2   Download

By analysing the risk of interbank contagion during two distinctive crises, namely the Finnish banking crisis in the 1990s and the most recent financial crisis of the 2000s, this paper provides evidence on negative domino effects in a small open economy with a concentrated banking system. Simulations based on interbank exposures and maximum entropy estimations shed light on the magnitude of the contagion and the vulnerability to cross-border risks.

21p 035522894 13-04-2020 17 2   Download

The current global economic and financial crises led by free markets economies; that clearly indicates the collapse of Milton-Friedman‘s philosophy of Chicago university which was based on Adam Smith‘s classical economic theory, and policies of ‗ThatcherReagan‘ free - market model; as dominated thinking for 30 years has been discredited. The systemic crisis of capitalism is looming right after.

16p 035522894 13-04-2020 23 1   Download

This paper evaluates the transmission of the U.S. Subprime Crisis and the European Sovereign Debt Crisis to sixteen emerging markets. A GARCH model is formulated to test for the transmission of shocks and for transmission effects through financial channels. The bankruptcy of Lehman Brothers and the Greek debt restructuring are used as breakpoints for these sub-periods. The U.S. stock market has a significant transmission effect on emerging markets at the early stage of the crises and normal time, whether in terms of a contemporaneous day or a one-day lag time.

19p cothumenhmong4 24-03-2020 31 1   Download

The analysis of time varying correlation between stock prices and exchange rates in the context of international investments has been well researched in the literature in last few years.

27p trinhthamhodang2 21-01-2020 16 4   Download

The United State of America has been experiencing high debt to GDP ratio of more than 100% and these Public debts are detrimental. The main purpose of this study was to examine the shocks of the variables on others in the USA economy by using quarterly data. The variance decomposition and the Generalised Impulse Response Function techniques were employed to analyse the data. The result revealed that high variation of shocks in real federal debt is explained by their own innovations in the short run, by CPI followed by real federal debt its self.

8p chauchaungayxua2 09-01-2020 48 0   Download

(BQ) Part 2 book "Global financial systems" has contents: Currency crisis models, financial regulations, bailouts, dangerous financial instruments, failures in risk management and regulations before the crisis, the ongoing crisis: 2007–2009 phase, ongoing developments in financial regulation, sovereign debt crises

210p bautroibinhyen22 22-03-2017 40 1   Download

Activity in the Asian real estate investment market rose significantly during the third quarter of 2010 and the period saw a noticeable improvement in investor sentiment. The quarter saw most of the region’s major real estate markets regain momentum after they had endured a brief period of uncertainty following the onset of the eurozone sovereign debt crisis.

28p votinhdon91 11-09-2014 59 5   Download

We start by considering the role of sovereign debt problems. Are the baseline results picking up greater-than-expected effects of sovereign debt problems rather than the effects of fiscal consolidation? As Table 2 reports, the results are robust to controlling for the initial (end- 2009) government-debt-to-GDP ratio, for the initial fiscal-balance-to-GDP ratio, and for the initial structural fiscal-balance-to-GDP ratio.

135p trinhcaidat 19-04-2013 61 6   Download

A recovery is on the horizon, but it will be a long and stony road before the EU economy reaches sustained growth. Following the escalation of the sovereign-debt crisis in the second half of 2011, the EU economy has entered a shallow recession in the fourth quarter. Since then, we have seen tentative signs of stabilisation. Yet, as the outlook for the EU economy is slowly improving, the situation remains extraordinarily fragile, and the risk of a renewed aggravation of the crisis is still present. The ebbing of the greatest financial market stress creates the...

0p trinhcaidat 19-04-2013 53 4   Download

Against this backdrop, and assuming that policy actions at the European and Member-State level will continue to rein in the sovereign-debt crisis, thus allowing an easing of financing conditions and a return of confidence, the EU economy is expected to stabilise at the turn of the year and to embark on a moderate recovery path thereafter. With strong internal headwinds holding back domestic demand, net exports are likely to remain the most important growth driver next year.

20p trinhcaidat 19-04-2013 63 4   Download

Nonetheless, a resurgent aggravation of the sovereign-debt crisis with grave consequences for growth and financial stability remains the largest downside risk. This remains intrinsically linked to the risk of slippage or delay with the implementation of policy measures agreed at EU/euro-area and Member- State levels. A downside risk also stems from labour markets, where a deeper drop in employment would weigh on growth prospects going forward.

191p trinhcaidat 19-04-2013 47 5   Download

The adjustment of the remaining imbalances is subject to a number of challenging interdependencies such as the feedback loop between banks and sovereigns, the impact on domestic demand of simultaneous debt deleveraging in several sectors and difficult conditions for financing the necessary shift of resources towards the production of tradable goods and services.

248p trinhcaidat 19-04-2013 41 4   Download

After a few months of respite brought about mainly by the provision of longer-term liquidity by the Eurosystem in early 2012, the sovereign-debt crisis intensified again in spring. However, financial markets have recovered since July, helped by important policy decisions in the EU and the announcement of further monetary easing on both sides of the Atlantic. Sovereign yields in most vulnerable countries have receded somewhat since summer. Risk appetite appears to have improved as stock markets have recuperated the losses experienced earlier in the year.

0p trinhcaidat 19-04-2013 64 4   Download

In Europe, economic sentiment resumed its decline, dropping significantly in the summer months. After stagnation in the first quarter of 2012, the EU and euro-area economies contracted in the second quarter reflecting a decrease in domestic demand and lower net export growth. Unemployment increased further, in particular in the countries that were hardest hit by the sovereign- debt crisis. Available hard data and leading indicators point to a weak second half of the year. For 2012 as a whole, GDP is now expected to contract by ¼% in the EU and almost ½% in the euro area. ...

446p trinhcaidat 19-04-2013 39 4   Download