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Spatial Spillovers in Emerging Market Spreads

Spatial Spillovers in Emerging Market Spreads »

Volume/Issue: 2011/221

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Emanuele Baldacci , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

DOI: http://dx.doi.org/10.5089/9781463904234.001

ISBN: 9781463904234

Keywords: sovereign spreads, emerging market, spatial econometrics, external debt, bond, currency crises, sovereign bond, total external debt, International Finance: General,

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on spillover effects fr...

Spatial Spillovers in Emerging Market Spreads

Spatial Spillovers in Emerging Market Spreads »

Source: Spatial Spillovers in Emerging Market Spreads

Volume/Issue: 2011/221

Series: IMF Working Papers

Author(s): Salvatore Dell'Erba , Emanuele Baldacci , and Tigran Poghosyan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 September 2011

ISBN: 9781463904234

Keywords: sovereign spreads, emerging market, spatial econometrics, external debt, bond, currency crises, sovereign bond, total external debt, International Finance: General,

We use novel spatial econometrics techniques to explore spillovers in the sovereign bond market for 24 emerging economies during 1995-2010. The paper extends the previous literature focusing on spillover effects fr...

Sovereign Default, Private Sector Creditors and the IFIs

Sovereign Default, Private Sector Creditors and the IFIs »

Volume/Issue: 2009/46

Series: IMF Working Papers

Author(s): Emine Boz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

DOI: http://dx.doi.org/10.5089/9781451871944.001

ISBN: 9781451871944

Keywords: sovereign debt and default, IFIs, debt, commercial debt, creditors, interest, private sector creditors,

This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on t...

Sovereign Default, Private Sector Creditors and the IFIs

Sovereign Default, Private Sector Creditors and the IFIs »

Source: Sovereign Default, Private Sector Creditors and the IFIs

Volume/Issue: 2009/46

Series: IMF Working Papers

Author(s): Emine Boz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451871944

Keywords: sovereign debt and default, IFIs, debt, commercial debt, creditors, interest, private sector creditors,

This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on t...

The Cost of Aggressive Sovereign Debt Policies

The Cost of Aggressive Sovereign Debt Policies »

Source: The Cost of Aggressive Sovereign Debt Policies : How Much is theprivate Sector Affected?

Volume/Issue: 2009/29

Series: IMF Working Papers

Author(s): Christoph Trebesch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2009

ISBN: 9781451871760

Keywords: Sovereign Default, Reputation Spillovers, debt policies, debt crisis, external borrowing,

This paper proposes a new empirical measure of cooperative versus conflictual crisis resolution following sovereign default and debt distress. The index of government coerciveness is presented as a proxy for excusa...

The Cost of Aggressive Sovereign Debt Policies
			: How Much is theprivate Sector Affected?

The Cost of Aggressive Sovereign Debt Policies : How Much is theprivate Sector Affected? »

Volume/Issue: 2009/29

Series: IMF Working Papers

Author(s): Christoph Trebesch

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2009

DOI: http://dx.doi.org/10.5089/9781451871760.001

ISBN: 9781451871760

Keywords: Sovereign Default, Reputation Spillovers, debt policies, debt crisis, external borrowing,

This paper proposes a new empirical measure of cooperative versus conflictual crisis resolution following sovereign default and debt distress. The index of government coerciveness is presented as a proxy for excusa...

Trade Creation and Diversion Revisited
			: Accounting for Model Uncertainty and Natural Trading Partner Effects

Trade Creation and Diversion Revisited : Accounting for Model Uncertainty and Natural Trading Partner Effects »

Volume/Issue: 2008/66

Series: IMF Working Papers

Author(s): Chris Papageorgiou , Christian Henn , and Theo Eicher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

DOI: http://dx.doi.org/10.5089/9781451869286.001

ISBN: 9781451869286

Keywords: Trade Creation and Trade Diversion, Preferential Trade Agreements, Bayesian Model Averaging, Country-Pair Fixed Effects, trade creation, trade flows, trade diversion, bilateral trade, trade agreements,

Trade theories covering Preferential Trade Agreements (PTAs) are as diverse as the literature in search of their empirical support. To account for the model uncertainty that surrounds the validity of the competing...

Trade Creation and Diversion Revisited

Trade Creation and Diversion Revisited »

Source: Trade Creation and Diversion Revisited : Accounting for Model Uncertainty and Natural Trading Partner Effects

Volume/Issue: 2008/66

Series: IMF Working Papers

Author(s): Chris Papageorgiou , Christian Henn , and Theo Eicher

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2008

ISBN: 9781451869286

Keywords: Trade Creation and Trade Diversion, Preferential Trade Agreements, Bayesian Model Averaging, Country-Pair Fixed Effects, trade creation, trade flows, trade diversion, bilateral trade, trade agreements,

Trade theories covering Preferential Trade Agreements (PTAs) are as diverse as the literature in search of their empirical support. To account for the model uncertainty that surrounds the validity of the competing...

Measures of Central Bank Autonomy
			: Empirical Evidence for OECD, Developing, and Emerging Market Economies

Measures of Central Bank Autonomy : Empirical Evidence for OECD, Developing, and Emerging Market Economies »

Volume/Issue: 2006/228

Series: IMF Working Papers

Author(s): Jean-François Segalotto , Marco Arnone , and Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

DOI: http://dx.doi.org/10.5089/9781451864885.001

ISBN: 9781451864885

Keywords: political autonomy, economic autonomy, central bank, monetary stability, public debt,

This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, a...

Measures of Central Bank Autonomy

Measures of Central Bank Autonomy »

Source: Measures of Central Bank Autonomy : Empirical Evidence for OECD, Developing, and Emerging Market Economies

Volume/Issue: 2006/228

Series: IMF Working Papers

Author(s): Jean-François Segalotto , Marco Arnone , and Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 2006

ISBN: 9781451864885

Keywords: political autonomy, economic autonomy, central bank, monetary stability, public debt,

This paper presents an update of the Grilli-Masciandaro-Tabellini (GMT) index of central bank (CB) autonomy, based on CB legislation as of end-2003. The index is applied to a set of OECD and developing countries, a...