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Intertwined sovereign and bank solvencies in a model of self-fulfilling crisis /
Large fiscal financing needs, both in advanced and emerging market economies, have often been met by borrowing heavily from domestic banks. As public debt approached sustainability limits in a number of countries, however, high bank exposure to sovereign risk created a fragile inter-dependence betwe...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Colección: | IMF working paper ;
WP/12/178. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Large fiscal financing needs, both in advanced and emerging market economies, have often been met by borrowing heavily from domestic banks. As public debt approached sustainability limits in a number of countries, however, high bank exposure to sovereign risk created a fragile inter-dependence between fiscal and bank solvency. This paper presents a simple model of twin (sovereign and banking) crisis that stresses how this interdependence creates conditions conducive to a self-fulfilling crisis. |
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| Notas: | Title from PDF title page (IMF Web site, viewed July 17, 2012). "Western Hemisphere Department." "July 2012." |
| Descripción Física: | 1 online resource (29 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1475558252 9781475558258 1475505264 9781475505269 1475548419 9781475548419 1475529392 9781475529395 |