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200301 ||| eng |
| 020 |
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|a 9781498303255
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| 100 |
1 |
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|a Asonuma, Tamon
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| 245 |
0 |
0 |
|a Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel
|c Tamon Asonuma, Marcos Chamon, Aitor Erce, Akira Sasahara
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2019
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| 300 |
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|a 91 pages
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| 651 |
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4 |
|a Argentina
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Credit
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| 653 |
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|a Finance
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| 653 |
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|a Financial crises
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| 653 |
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|a Monetary economics
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| 653 |
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|a Debt Management
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| 653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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| 653 |
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|a Balance of payments
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| 653 |
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|a Open Economy Macroeconomics
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| 653 |
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|a Long-term Capital Movements
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| 653 |
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|a Debt
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| 653 |
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|a Exports and Imports
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| 653 |
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|a Asset and liability management
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| 653 |
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|a International Lending and Debt Problems
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| 653 |
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|a International economics
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| 653 |
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|a Debts, External
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| 653 |
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|a Money
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| 653 |
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|a Sovereign Debt
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| 653 |
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|a Capital inflows
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Sudden stops
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| 653 |
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|a Banking crises
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| 653 |
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|a Debt restructuring
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| 653 |
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|a Capital movements
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| 653 |
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|a Financial Risk Management
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| 653 |
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|a Money and Monetary Policy
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| 653 |
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|a International Investment
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| 653 |
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|a Financial Crises
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| 700 |
1 |
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|a Chamon, Marcos
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| 700 |
1 |
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|a Erce, Aitor
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| 700 |
1 |
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|a Sasahara, Akira
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781498303255.001
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| 856 |
4 |
0 |
|u https://elibrary.imf.org/view/journals/001/2019/069/001.2019.issue-069-en.xml?cid=46678-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 330
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| 520 |
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|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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