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Sovereign defaulters: do international capital markets punish them?
(ELSEVIER SCIENCE BV, 2010)
Extracting default probabilities from sovereign bonds
(Sociedade Brasileira de Econometria, 2008-05-01)
Sovereign risk analysis is central in debt markets. Considering different bonds and countries, there are numerous measures aiming to identify the way risk is perceived by market participants. In such environment, probabilities ...
Inadimplência de dívida soberana em modelo de equilíbrio geral com credores heterogêneos
(2012-09-19)
This paper provides a general equilibrium model of sovereign default with agents' heterogeneity, but without banking or foreign sectors. The heterogeneity is due to different kinds of consumers in the economy with distinct ...
How fiscal rules can reduce sovereign debt default riskCómo las reglas fiscales pueden reducir el riesgo de incumplimiento de la deuda soberana
(Emerging Markets Review, 2022)
How fiscal rules can reduce sovereign debt default risk
The Eaton-Gersovitz-Arellano environment with collateral
(2014-04-30)
In this article I introduce collateralization in the Eaton-Gersovitz-Arellano environment. In my paper, collateral can be understood as Foreign Direct Investment. I find that collateral increases the equilibrium levels of ...
Debt and default in a growth model
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia., 2006-08-11)
This paper presents a small open economy model with capital accumulation and without commitment to repay debt. The optimal debt contract specifies debt relief following bad shocks and debt increase following good shocks ...
Are States Entitled to Default on the Sovereign Debts Incurred by Governments in the Past?
(Peeters Publishers. Center for Ethics KU Leuven, 2015-09)
In this article I claim that states are in general morally responsible for repaying sovereign debts incurred by governments in the past. However, once we understand the reasons why they are morally responsible for repaying ...
Co-ordination failure, moral hazard and sovereign bankruptcy procedures
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2002-09-02)
We study a model of sovereign debt crisis that combines problems of creditor coordination and debtor moral hazard. Solving the sovereign debtor's incentives leads to excessive 'rollover failure' by creditors when sovereign ...
Rigidez de política fiscal e default na dívida soberana
(2013-04-09)
Este trabalho tem como objetivo investigar as implicações quantitativas do modelo de rigidez de política fiscal desenvolvido por Gonçalves e Guimaraes (2012) e responder se ele é capaz de gerar mais defaults em equilíbrio ...