Self-Fulfilling Debt Crises

DOI10.1111/1467-937X.00123MaRDI QIDQ4949577zbMATH OpenFDO

Authors Harold L. Cole, Timothy J. Kehoe

Publication date 4 March 2001

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

Full work available at URL https://doi.org/10.1111/1467-937X.00123

zbMATH Keywords

debtdynamicfinancial crisesstochastic general equilibrium

Mathematics Subject Classification ID

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

Recommendations

• Self-fulfilling crises with default and devaluation
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Cited in

(37)

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

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