Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel /

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Bibliographic Details
Author / Creator:Asonuma, Tamon, author.
Imprint:[Washington, D.C.] : International Monetary Fund, [2019]
©2019
Description:1 online resource (91 pages)
Language:English
Series:IMF Working Paper ; WP/19/69
IMF working paper ; WP/19/69.
Subject:
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12509931
Hidden Bibliographic Details
Other authors / contributors:Chamon, Marcos, author.
Erce, Aitor, author.
Sasahara, Akira, author.
IMF e-Library - York University.
ISBN:1498303250
1498305016
9781498303255
9781498305013
Notes:Includes bibliographical references.
Print version record.
Summary:Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on whether the restructuring takes place preemptively, without missing payments to creditors, or whether it takes place after a default has occurred. Post-default restructurings are associated with larger declines in bank credit, an increase in lending interest rates, and a higher likelihood of triggering a banking crisis than pre-emptive restructurings. Our local projection estimates show large declines in GDP, investment, and credit amplified by severe sudden stops and transmitted through a 'capital inflow-credit channel'.
Other form:Print version: Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel. Washington, D.C. : International Monetary Fund, 2019
Standard no.:10.5089/9781498303255.001

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520 3 |a Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on whether the restructuring takes place preemptively, without missing payments to creditors, or whether it takes place after a default has occurred. Post-default restructurings are associated with larger declines in bank credit, an increase in lending interest rates, and a higher likelihood of triggering a banking crisis than pre-emptive restructurings. Our local projection estimates show large declines in GDP, investment, and credit amplified by severe sudden stops and transmitted through a 'capital inflow-credit channel'. 
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650 0 |a Debts, External  |x Econometric models. 
650 0 |a Default (Finance)  |x Econometric models. 
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650 6 |a Défaillance (Finances)  |x Modèles économétriques. 
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650 7 |a Default (Finance)  |x Econometric models.  |2 fast  |0 (OCoLC)fst00889574 
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700 1 |a Erce, Aitor,  |e author. 
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