Browsing Economics and Business Working Papers Series by Subject "debt overhang"

Now showing items 1-5 of 5

Banks vs. firms: who benefits from credit guarantees?

Martin, Alberto; Mayordomo, Sergio; Vanasco, Victoria (2023-04-03)

Many countries implemented large-scale programs to guarantee private credit in response to the outbreak of COVID-19. Yet the role of banks in allocating guarantees - and thus in shaping their effects - is not well understood. ...
Making sovereign debt safe with a financial stability fund

Liu, Yan; Marimon, Ramon; Wicht, Adrien (2022-03-01)

We develop an optimal design of a Financial Stability Fund that coexists with the international debt market. The sovereign can borrow long-term defaultable bonds on the private international market, while having with the ...
On the optimal design of a financial stability fund

Ábrahám, Árpád; Cárceles-Poveda, Eva; Liu, Yan; Marimon, Ramon (2022-03-01)

We develop a model of a Financial Stability Fund (Fund) for a union of sovereign countries. By contract design, the Fund never has expected undesired losses while, being default-free, a participant country has greater ...
The overhang hangover

Imbs, Jean; Rancière, Romain (2005-06-01)
The sustainable debts of Philip II: A reconstruction of Castile's fiscal position, 1566-1596

Drelichman, Mauricio; Voth, Hans-Joachim (2006-12-01)

The defaults of Philip II have attained mythical status as the origin of sovereign debt crises. We reassess the fiscal position of Habsburg Castile, deriving comprehensive estimates of revenue, debt, and expenditure from ...

Now showing items 1-5 of 5

Search DSpace

In collaboration with Compliant to Partaking