Self-Fulfilling Debt Crises

DOI10.1111/1467-937X.00123zbMATH Open0955.91043MaRDI QIDQ4949577FDOQ4949577

Authors: Harold L. Cole, Timothy J. Kehoe 

Publication date: 4 March 2001

Published in: Review of Economic Studies (Search for Journal in Brave)

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zbMATH Keywords

dynamicfinancial crisesdebtstochastic general equilibrium

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Dynamic stochastic general equilibrium theory (91B51)

Cited In (30)

• Bank runs with many small banks and mutual guarantees at the terminal stage
• Bubbles and Self-Enforcing Debt
• Real option value and poverty trap
• Financial fragility, sovereign default risk and the limits to commercial bank bail-outs
• Present-biased government and sovereign debt dynamics
• Discretionary monetary and fiscal policy with endogenous sovereign risk
• Monetary independence and rollover crises
• Banks and liquidity crises in emerging market economies
• On the irrelevance of the maturity structure of government debt without commitment.
• General equilibrium, preferences and financial institutions after the crisis
• Critical debt and debt dynamics.
• Household debt and crises of confidence
• On the relevance of floating exchange rate policies
• Equilibrium and government commitment
• Financial crises as herds: overturning the critiques
• A continuous-time model of sovereign debt
• Public debt and fiscal policy traps
• Disastrous Defaults
• Self-fulfilling crises with default and devaluation
• Risk management for sustainable sovereign debt financing
• Banking and sovereign debt crises in a monetary union without central bank intervention
• A contraction for sovereign debt models
• Sovereign default: the role of expectations
• Credit rating and debt crises
• Bargained haircuts and debt policy implications
• Gambling for redemption and self-fulfilling debt crises
• Introduction to the special issue on models of debt and debt crises
• On the sovereign debt paradox
• Sovereign borrowing, financial assistance, and debt repudiation
• The productivity cost of sovereign default: evidence from the European debt crisis

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