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The costs of sovereign default /
This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs a...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Research Dept.,
2008.
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| Colección: | IMF working paper ;
WP/08/238. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises. |
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| Notas: | "October 2008." |
| Descripción Física: | 1 online resource (52 pages .) |
| Bibliografía: | Includes bibliographical references (pages 24-27). |
| ISBN: | 1451915497 9781451915495 1462331572 9781462331574 1452701652 9781452701653 1282841890 9781282841895 9786612841897 6612841893 |
| ISSN: | 2227-8885 ; |