Arbeitspapier
Recent developments in quantitative models of sovereign default
The current crisis and discussions, in the euro area in particular, show that sovereign debt crises/defaults are no longer restricted to developing economies. After crises in many Latin American countries, the literature on quantitative dynamic macro-models of sovereign default has been advancing. Current debate should take notice of the findings from this literature - an extensive overview of which has been provided in this paper. This paper also discusses the difficulties involved in, but also possibilities of, integrating this type of model in standard business cycle models (RBC and DSGE models). This is likely to be particularly helpful when using models to analyse upcoming issues in the euro area, such as a suitable (sovereign) insolvency law or the assumption of joint liability.
- ISBN
-
978-3-86558-729-9
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Paper Series 1 ; No. 2011,17
- Klassifikation
-
Wirtschaft
International Lending and Debt Problems
Open Economy Macroeconomics
Macroeconomics: Consumption; Saving; Wealth
Business Fluctuations; Cycles
General Financial Markets: General (includes Measurement and Data)
- Thema
-
Sovereign Debt
Default Risk
Endogenous Borrowing Constraints
Small Open Economy
Staatsbankrott
Öffentliche Schulden
Verschuldungsrestriktion
Wirtschaftsmodell
Real Business Cycle
Dynamisches Gleichgewicht
Kleines-offenes-Land
Theorie
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Stähler, Nikolai
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsche Bundesbank
- (wo)
-
Frankfurt a. M.
- (wann)
-
2011
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Stähler, Nikolai
- Deutsche Bundesbank
Entstanden
- 2011
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