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Asymmetric business cycles and sovereign default

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0 Published in 2017 at "Economics Letters"

DOI: 10.1016/j.econlet.2017.09.005

Abstract: What accounts for asymmetric (negatively skewed) business cycles in emerging economies? We show the asymmetry is tied to default risk and that a sovereign default model delivers negative skew. read more here.

Keywords: default; business cycles; sovereign default; cycles sovereign ... See more keywords

The role of risk aversion in a sovereign default model of polarization and political instability

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0 Published in 2019 at "Review of Economic Dynamics"

DOI: 10.1016/j.red.2019.05.003

Abstract: We show that, in models of endogenous sovereign default with symmetric polarization and political turnover, disagreement in the distribution of consumption among distinct political groups or random political turnovers lead to elevated default risk only… read more here.

Keywords: default; risk aversion; polarization; polarization political ... See more keywords

Fiscal commitment and sovereign default risk

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1 Published in 2021 at "Review of Economic Dynamics"

DOI: 10.1016/j.red.2021.08.005

Abstract: Abstract This paper studies the interaction between fiscal commitment and sovereign default risk in a model with optimal taxation and government spending. A time-inconsistency problem arises in our framework as the government cannot credibly commit… read more here.

Keywords: tax; commitment sovereign; fiscal commitment; default risk ... See more keywords

Sovereign debt in emerging market countries: not all of them are serial defaulters

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1 Published in 2018 at "Applied Economics"

DOI: 10.1080/00036846.2018.1486022

Abstract: ABSTRACT Avoiding to assign emerging market countries a ‘typical’ behaviour, this article considers the heterogeneity across them and through time to predict their sovereign default episodes. Moreover, it focuses on the imbalance between defaulted debt… read more here.

Keywords: market countries; market; sovereign default; debt ... See more keywords

Rethinking sovereign default

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0 Published in 2021 at "Review of International Political Economy"

DOI: 10.1080/09692290.2021.1913439

Abstract: Scholars continue to debate why states repay their debts to foreign creditors. The existing literature stresses the short-term economic and political costs that deter default, focusing on reputatio... read more here.

Keywords: rethinking sovereign; sovereign default; default;