The Economics of Sovereign Debt and Default / / Manuel Amador, Mark Aguiar.
An integrated approach to the economics of sovereign defaultFiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sov...
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Superior document: | Title is part of eBook package: De Gruyter EBOOK PACKAGE Business and Economics 2021 English |
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2021] ©2021 |
Year of Publication: | 2021 |
Language: | English |
Series: | CREI Lectures in Macroeconomics ;
1 |
Online Access: | |
Physical Description: | 1 online resource (200 p.) :; 16 b/w illus. 5 tables. |
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100 | 1 | |a Aguiar, Mark, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
245 | 1 | 4 | |a The Economics of Sovereign Debt and Default / |c Manuel Amador, Mark Aguiar. |
264 | 1 | |a Princeton, NJ : |b Princeton University Press, |c [2021] | |
264 | 4 | |c ©2021 | |
300 | |a 1 online resource (200 p.) : |b 16 b/w illus. 5 tables. | ||
336 | |a text |b txt |2 rdacontent | ||
337 | |a computer |b c |2 rdamedia | ||
338 | |a online resource |b cr |2 rdacarrier | ||
347 | |a text file |b PDF |2 rda | ||
490 | 0 | |a CREI Lectures in Macroeconomics ; |v 1 | |
505 | 0 | 0 | |t Frontmatter -- |t CONTENTS -- |t LIST OF FIGURES -- |t LIST OF TABLES -- |t ACKNOWLEDGMENTS -- |t 1. Introduction -- |t 2. Limited Commitment -- |t 3. Growth under Limited Commitment -- |t 4. Incomplete Markets -- |t 5. The Standard One-Period Bond Model -- |t 6. Self-Fulfilling Debt Crises -- |t 7. Long-Term Bonds -- |t 8. Conclusion -- |t BIBLIOGRAPHY -- |t INDEX -- |t A NOTE ON THE TYPE |
506 | 0 | |a restricted access |u http://purl.org/coar/access_right/c_16ec |f online access with authorization |2 star | |
520 | |a An integrated approach to the economics of sovereign defaultFiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management.The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome.Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic. | ||
538 | |a Mode of access: Internet via World Wide Web. | ||
546 | |a In English. | ||
588 | 0 | |a Description based on online resource; title from PDF title page (publisher's Web site, viewed 01. Dez 2022) | |
650 | 7 | |a BUSINESS & ECONOMICS / Economics / Macroeconomics. |2 bisacsh | |
653 | |a 1997 Asian financial crisis. | ||
653 | |a Auction. | ||
653 | |a Balance of trade. | ||
653 | |a Bank rate. | ||
653 | |a Bond (finance). | ||
653 | |a Bond market. | ||
653 | |a Capital market. | ||
653 | |a Capitalism. | ||
653 | |a Central bank. | ||
653 | |a Competition (economics). | ||
653 | |a Consumer price index. | ||
653 | |a Consumption (economics). | ||
653 | |a Convergence (economics). | ||
653 | |a Coordination failure (economics). | ||
653 | |a Cost of capital. | ||
653 | |a Credit (finance). | ||
653 | |a Credit default swap. | ||
653 | |a Credit risk. | ||
653 | |a Creditor. | ||
653 | |a Currency. | ||
653 | |a Debt Issue. | ||
653 | |a Debt crisis. | ||
653 | |a Debt limit. | ||
653 | |a Debt overhang. | ||
653 | |a Debt ratio. | ||
653 | |a Debt. | ||
653 | |a Default (finance). | ||
653 | |a Economic equilibrium. | ||
653 | |a Economic liberalization. | ||
653 | |a Economic planning. | ||
653 | |a Economic policy. | ||
653 | |a Economics. | ||
653 | |a Economy. | ||
653 | |a Equity Market. | ||
653 | |a Equity ratio. | ||
653 | |a European debt crisis. | ||
653 | |a Eurozone. | ||
653 | |a Exchange rate. | ||
653 | |a External debt. | ||
653 | |a Finance. | ||
653 | |a Financial Account. | ||
653 | |a Financial Times. | ||
653 | |a Financial crisis of 2007–08. | ||
653 | |a Financial crisis. | ||
653 | |a Financial engineering. | ||
653 | |a Financial fragility. | ||
653 | |a Fiscal policy. | ||
653 | |a Foreign Exchange Reserves. | ||
653 | |a Foreign direct investment. | ||
653 | |a Government bond. | ||
653 | |a Government budget balance. | ||
653 | |a Government budget. | ||
653 | |a Government debt. | ||
653 | |a Haircut (finance). | ||
653 | |a Hedge (finance). | ||
653 | |a Hedge fund. | ||
653 | |a High-yield debt. | ||
653 | |a Incremental capital-output ratio. | ||
653 | |a Inflation. | ||
653 | |a Institutional investor. | ||
653 | |a Insurance. | ||
653 | |a Interest rate. | ||
653 | |a International Monetary Fund. | ||
653 | |a Investment goods. | ||
653 | |a Investment. | ||
653 | |a Macroeconomics. | ||
653 | |a Market economy. | ||
653 | |a Market liquidity. | ||
653 | |a Market mechanism. | ||
653 | |a Market price. | ||
653 | |a Market value. | ||
653 | |a Money management. | ||
653 | |a Money market. | ||
653 | |a Neoclassical economics. | ||
653 | |a Net capital outflow. | ||
653 | |a Net foreign assets. | ||
653 | |a Payment. | ||
653 | |a Political economy. | ||
653 | |a Price Change. | ||
653 | |a Probability of default. | ||
653 | |a Profit (economics). | ||
653 | |a Public finance. | ||
653 | |a Real interest rate. | ||
653 | |a Repayment. | ||
653 | |a Return on capital. | ||
653 | |a Revaluation of fixed assets. | ||
653 | |a Risk premium. | ||
653 | |a Risk-Return Tradeoff. | ||
653 | |a Securitization. | ||
653 | |a Stock market index. | ||
653 | |a Stock market. | ||
653 | |a Supply (economics). | ||
653 | |a Swap (finance). | ||
653 | |a Tax revenue. | ||
653 | |a Trade credit. | ||
653 | |a Trader (finance). | ||
653 | |a Trading nation. | ||
653 | |a United States Treasury security. | ||
653 | |a World Bank. | ||
653 | |a World economy. | ||
700 | 1 | |a Amador, Manuel, |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
773 | 0 | 8 | |i Title is part of eBook package: |d De Gruyter |t EBOOK PACKAGE Business and Economics 2021 English |z 9783110754049 |
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773 | 0 | 8 | |i Title is part of eBook package: |d De Gruyter |t Princeton University Press Complete eBook-Package 2019 |z 9783110663365 |
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