On the sovereign debt paradox

DOI10.1007/S00199-016-0971-6MaRDI QIDQ680965zbMATHOpenAlexFDO

Authors V. Filipe Martins-da-Rocha, Yiannis Vailakis

Publication date 29 January 2018

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL http://eprints.gla.ac.uk/118296/13/118296.pdf

zbMATH Keywords

lack of commitmentsovereign riskreputation debt

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64) Credit risk (91G40)

Recommendations

• Sovereign debt and incentives to default with uninsurable risks
• Reputation and sovereign default
• Sustainable debt
• Sovereign Debt without Default Penalties
• Private Investment and Sovereign Debt Negotiations

Cites work

• A general equilibrium model of sovereign default and business cycles
• Bubbles and Self-Enforcing Debt
• Debt Constrained Asset Markets
• Default and efficient debt markets.
• Efficiency, Equilibrium, and Asset Pricing with Risk of Default
• Endogenous credit limits with small default costs
• Enforcement frictions and optimal lending contracts
• International Business Cycles with Endogenous Incomplete Markets
• Martingale properties of self-enforcing debt
• Self-Control and the Theory of Consumption
• Self-Fulfilling Debt Crises
• Solving the Feldstein-Horioka puzzle with financial frictions

Cited in

(13)

• A contraction for sovereign debt models
• Defaulting firms and systemic risks in financial networks: a normative approach
• Reputation and sovereign default
• Gambling for redemption and self-fulfilling debt crises
• Introduction to the special issue on models of debt and debt crises
• Sovereign borrowing, financial assistance, and debt repudiation
• Deadly Embrace: Sovereign and Financial Balance Sheets Doom Loops
• Private Investment and Sovereign Debt Negotiations
• On recursive utilities with non-affine aggregator and conditional certainty equivalent
• Repudiation and Renegotiation: The Case of Sovereign Debt
• Nominal sovereign debt
• Sovereign Debt without Default Penalties
• Sovereign debt and incentives to default with uninsurable risks

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