Series: IMF Working Papers
Author(s): Nicola Gennaioli , Alberto Martin , and Stefano Rossi
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 08 July 2014
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...