Intertwined sovereign and bank solvencies in a model of self-fulfilling crisis /
Saved in:
| Author / Creator: | Adler, Gustavo, 1974- author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2012. |
| Description: | 1 online resource (29 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/12/178 IMF working paper ; WP/12/178. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/11138427 |
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| 050 | 4 | |a HG3881.5.I58 |b W67 No. 12/178eb | |
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| 100 | 1 | |a Adler, Gustavo, |d 1974- |e author. | |
| 245 | 1 | 0 | |a Intertwined sovereign and bank solvencies in a model of self-fulfilling crisis / |c prepared by Gustavo Adler. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (29 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 340 | |g polychrome. |2 rdacc |0 http://rdaregistry.info/termList/RDAColourContent/1003 | ||
| 347 | |a data file | ||
| 490 | 1 | |a IMF working paper ; |v WP/12/178 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed July 17, 2012). | ||
| 520 | 3 | |a 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. | |
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Western Hemisphere Department." | ||
| 500 | |a "July 2012." | ||
| 505 | 0 | |a 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. | |
| 650 | 0 | |a Banks and banking |x Econometric models. | |
| 650 | 0 | |a Bank loans |x Econometric models. | |
| 650 | 0 | |a Financial crises |x Econometric models. | |
| 650 | 0 | |a Risk |x Econometric models. | |
| 650 | 0 | |a Debts, Public |x Econometric models. | |
| 650 | 6 | |a Prêts bancaires |x Modèles économétriques. | |
| 650 | 6 | |a Risque |x Modèles économétriques. | |
| 650 | 6 | |a Dettes publiques |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Bank loans |x Econometric models. |2 fast |0 (OCoLC)fst00826709 | |
| 650 | 7 | |a Banks and banking |x Econometric models. |2 fast |0 (OCoLC)fst00826918 | |
| 650 | 7 | |a Debts, Public |x Econometric models. |2 fast |0 (OCoLC)fst00888859 | |
| 650 | 7 | |a Financial crises |x Econometric models. |2 fast |0 (OCoLC)fst00924608 | |
| 650 | 7 | |a Risk |x Econometric models. |2 fast |0 (OCoLC)fst01098121 | |
| 655 | 7 | |a Electronic books. |2 gtlm | |
| 710 | 2 | |a International Monetary Fund. |b Western Hemisphere Department. | |
| 830 | 0 | |a IMF working paper ; |v WP/12/178. | |
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