Sustainable debt and deficits in Emerging Markets
نویسندگان
چکیده
منابع مشابه
Domestic Debt Structures in Emerging Markets: New Empirical Evidence
This paper explains why public domestic debt composition in emerging economies can be risky, namely in foreign currency, with a short maturity or indexed. It analyses empirically the determinants of these risk sources separately, developing a new large dataset compiled from national sources for 33 emerging economies over 1994-2006. The paper finds that economic size, the breadth of the domestic...
متن کاملSustainable Plans and Debt
*We thank an anonymous referee for very useful comments and suggestions. Both authors acknowledge support from the National Science Foundation. The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System.
متن کاملDefault and efficient debt markets
We examine the nature of debt contracts when repayment of debt cannot be fully enforced. We study outcomes an infinite-horizon economy in which some individuals have access to a productive, intertemporal technology. Individuals without access to the technology must lend their savings to the rest. Borrowers can default on their debt at any time: lenders can capture a fraction of their investment...
متن کاملDebt Financing in Asset Markets
The widely used short-term debt such as overnight repos and commercial paper is regarded as one of the main sources of instability leading to the distress of many nancial institutions during the nancial crisis of 2007-2008. What explains the popularity of shortterm debt in nancing asset market investments? Geanakoplos (2010) presents a dynamic model of the joint equilibrium of asset markets ...
متن کاملLiquidity Constrained Markets versus Debt Constrained Markets
This paper compares two different models in a common environment. The first model has liquidity constraints in that consumers save a single asset that they cannot sell short. The second model has debt constraints in that consumers cannot borrow so much that they would want to default, but is otherwise a standard complete markets model. Both models share the features that individuals are unable ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Trade and Global Markets
سال: 2011
ISSN: 1742-7541,1742-755X
DOI: 10.1504/ijtgm.2011.039319