This paper provides an empirical analysis of the Macroeconomic Imbalance Procedure (MIP). It explores the relationship between sovereign bond yields spreads and the variables contained in the MIP scoreboard using ...

Purpose: The last great financial crisis which arose in the middle of 2007 in the USA produced contagion effects over others economies. The purpose of this paper is focused on analyzing the evolution of a set of economic ...

El objetivo del presente trabajo se basa en determinar los principales determinantes de los spreads de bonos soberanos europeos considerando como referentes un Índice de Bono soberano alemán y otro de Estados Unidos. El ...

We construct a dynamic equilibrium model to quantitatively study sovereign debt with contingent services and country risk spreads such that the benefits of defaulting are tempered by higher interest rates in the future. ...

This paper studies the importance of global common factors in the evolution of sovereign credit risk in a group of emerging economies (15 countries in Latin America for which daily data are available on sovereign credit ...

"When successfully executed, inflation targeting (IT) has managed to prevent situations of fiscal dominance and to anchor inflation expectations. This has helped enhance the information content of the price of government ...