Intertwined sovereign and bank solvencies in a model of self-fulfilling crisis /

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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...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Adler, Gustavo, 1974- (Autor)
Autor Corporativo: International Monetary Fund. Western Hemisphere Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, ©2012.
Colección:IMF working paper ; WP/12/178.
Temas:
Banks and banking > Econometric models.
Bank loans > Econometric models.
Financial crises > Econometric models.
Risk > Econometric models.
Debts, Public > Econometric models.
Prêts bancaires > Modèles économétriques.
Risque > Modèles économétriques.
Dettes publiques > Modèles économétriques.
BUSINESS & ECONOMICS > Finance.
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover; Contents; 1. Introduction; 2. Model; 2.1 Households; 2.2 Domestic Financial Intermediaries; 2.3 Firms; 2.4 Government; 2.5 A Competitive Equilibrium; 2.6 A Sustainable Debt Equilibrium; 2.7 A Self-Fulfilling Crisis; 3. Discussion; 3.1 Senior Debt Structure; 3.2 Capital Requirements; 3.3 Public Recapitalization; 4. Conclussions; Figures; 1. Equilibria at Time t; 2. Equilibria with Different Levels of Domestic Debt; 3. Probability of Crisis and Effect on Prices, Private Credit and Output; Appendix; References.

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