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You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending

You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending »

Source: You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending

Volume/Issue: 2013/20

Series: IMF Working Papers

Author(s): Marco Committeri , and Francesco Spadafora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2013

ISBN: 9781475578713

Keywords: IMF financing, Systemic spillovers, sovereign debt, debt restructuring, debt crises, sovereign debt crises, sovereign bonds, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

We review the impact of the global financial crisis, and its spillovers into the sovereign sector of the euro area, on the international 'rules of the game' for dealing with sovereign debt crises. These rules rest...

Government Debt Issuance in the Euro Area

Government Debt Issuance in the Euro Area »

Source: Government Debt Issuance in the Euro Area : The Impact of the Financial Crisis

Volume/Issue: 2011/21

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

ISBN: 9781455211944

Keywords: sovereign debt management, inflation, government debt, foreign currency, debt stock, International Lending and Debt Problems, International Finance: Other, Fiscal Policies and Behavior of Economic Agents: General,

This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone countries and Denmark. Using a newly constructed database on primary market debt issuance during 20...

Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Official Transfers?

Dealing with Systemic Sovereign Debt Crises: Fiscal Consolidation, Bail-ins or Official Transfers? »

Source: Dealing with Systemic Sovereign Debt Crises : Fiscal Consolidation, Bail-ins or Official Transfers?

Volume/Issue: 2015/223

Series: IMF Working Papers

Author(s): Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 October 2015

ISBN: 9781513569246

Keywords: Sovereign default, bail-ins, transfers, debt, creditors, sovereign debt, International Monetary Arrangements and Institutions, International Lending and Debt Problems, General, All Countries,

The paper presents a tractable model to understand how international financial institutions (IFIs) should deal with the sovereign debt crisis of a systemic country, in which case private creditors' bail-ins entail...

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Source: Default Premium

Volume/Issue: 2015/167

Series: IMF Working Papers

Author(s): Luis Catão , and Rui Mano

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 21 July 2015

ISBN: 9781513523507

Keywords: Country Risk, Interest Rate Spread, Haircut, market, debt, default, interest, interest rate, International Lending and Debt Problems, General

We re-assess the view that sovereigns with a history of default are charged only a small and/or short-lived premium on the interest rate warranted by observed fundamentals. Our reassessment uses a metric of such a...

Sudden Stops and Currency Drops

Sudden Stops and Currency Drops »

Source: Sudden Stops and Currency Drops : A Historical Look

Volume/Issue: 2006/133

Series: IMF Working Papers

Author(s): Luis Catão

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2006

ISBN: 9781451863932

Keywords: international capital flows, gold standard, exchange rate, foreign capital, capital inflows, capital inflow, foreign capital inflow, Financial Markets and the Macroeconomy, International Lending and Debt Problems,

This paper shows that recent manifestations of sudden stops (SSs) in international capital flows have striking parallels in the early financial globalization era preceding World War I. All main capital-importing co...

Banks, Government Bonds, and Default

Banks, Government Bonds, and Default »

Source: Banks, Government Bonds, and Default : What do the Data Say?

Volume/Issue: 2014/120

Series: IMF Working Papers

Author(s): Nicola Gennaioli , Alberto Martin , and Stefano Rossi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 July 2014

ISBN: 9781498391993

Keywords: Sovereign Default, Government Bonds, bonds, bond, public bonds, bond returns, sovereign bond, International Lending and Debt Problems, Financial Aspects of Economic Integration,

We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particul...

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out1

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out1 »

Source: Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out

Volume/Issue: 2013/270

Series: IMF Working Papers

Author(s): Fernando Broner , Aitor Erce , Alberto Martin , and Jaume Ventura

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 December 2013

ISBN: 9781484335963

Keywords: rollover crises, secondary markets, economic growth., domestic creditors, domestic debt, debt crises, public debt, International Lending and Debt Problems, Financial Aspects of Economic Integration, Open Economy Macroeconomics

In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. B...

You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending

You Never Give Me Your Money? Sovereign Debt Crises, Collective Action Problems, and IMF Lending »

Volume/Issue: 2013/20

Series: IMF Working Papers

Author(s): Marco Committeri , and Francesco Spadafora

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 January 2013

DOI: http://dx.doi.org/10.5089/9781475578713.001

ISBN: 9781475578713

Keywords: IMF financing, Systemic spillovers, sovereign debt, debt restructuring, debt crises, sovereign debt crises, sovereign bonds, International Monetary Arrangements and Institutions, International Lending and Debt Problems,

We review the impact of the global financial crisis, and its spillovers into the sovereign sector of the euro area, on the international 'rules of the game' for dealing with sovereign debt crises. These rules rest...

Government Debt Issuance in the Euro Area
			: The Impact of the Financial Crisis

Government Debt Issuance in the Euro Area : The Impact of the Financial Crisis »

Volume/Issue: 2011/21

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

DOI: http://dx.doi.org/10.5089/9781455211944.001

ISBN: 9781455211944

Keywords: sovereign debt management, inflation, government debt, foreign currency, debt stock, International Lending and Debt Problems, International Finance: Other, Fiscal Policies and Behavior of Economic Agents: General,

This paper documents and analyzes crisis-related changes in government debt issuance practices in the 16 euro zone countries and Denmark. Using a newly constructed database on primary market debt issuance during 20...

Dealing with Systemic Sovereign Debt Crises
			: Fiscal Consolidation, Bail-ins or Official Transfers?

Dealing with Systemic Sovereign Debt Crises : Fiscal Consolidation, Bail-ins or Official Transfers? »

Volume/Issue: 2015/223

Series: IMF Working Papers

Author(s): Damiano Sandri

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 October 2015

DOI: http://dx.doi.org/10.5089/9781513569246.001

ISBN: 9781513569246

Keywords: Sovereign default, bail-ins, transfers, debt, creditors, sovereign debt, International Monetary Arrangements and Institutions, International Lending and Debt Problems, General, All Countries,

The paper presents a tractable model to understand how international financial institutions (IFIs) should deal with the sovereign debt crisis of a systemic country, in which case private creditors' bail-ins entail...