Open AccessDOI
Fiscal Deficits, Public Debt, and Sovereign Bond Yields1
Manmohan S. Kumar,Emanuele Baldacci +1 more
- Vol. 2010, Iss: 184, pp 1-28
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The article was published on 2010-08-01 and is currently open access. It has received 207 citations till now. The article focuses on the topics: Bond & Debt.read more
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Journal ArticleDOI
Sovereign Risk, Fiscal Policy, and Macroeconomic Stability
TL;DR: In this article, the authors analyzed the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy, using a variant of the model by Curdia and Woodford (2009), through which sovereign default risk raises funding costs in the private sector.
Journal ArticleDOI
Austerity versus Stimulus? Understanding Fiscal Policy Change at the International Monetary Fund Since the Great Recession
TL;DR: In this paper, the authors trace the evolution of the International Monetary Fund's doctrine to staff politics, more diverse thinking in mainstream economics, and a careful framing of the message through the use of mainstream macroeconomic models.
ReportDOI
Crunch Time: Fiscal Crises and the Role of Monetary Policy*
David Greenlaw,James D. Hamilton,James D. Hamilton,Peter Hooper,Frederic S. Mishkin,Frederic S. Mishkin +5 more
TL;DR: In this paper, the authors analyze the recent experience of advanced economies using both econometric methods and case studies and conclude that countries with debt above 80% of GDP and persistent current-account deficits are vulnerable to a rapid fiscal deterioration as a result of these tipping-point dynamics.
Posted Content
Bond Yields in Emerging Economies: It Matters What State You are in
Laura Jaramillo,Anke Weber +1 more
TL;DR: In this article, the extent to which fiscal variables affect domestic bond yields in emerging economies depends on the level of global risk aversion, and during calm times in global markets, fiscal variables do not seem to be a significant determinant of domestic bond yield.
Posted Content
Determinants of Sovereign Bond Spreads in Emerging Markets: Local Fundamentals and Global Factors vs. Ever-Changing Misalignments
TL;DR: In this article, the authors analyze the relationship between global and country-specific factors and emerging market debt spreads from three different angles, and find that while both countryspecific and global developments are important in the long-run, global factors are main determinants of spreads in the short-run.
References
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Journal ArticleDOI
Sovereign Risk, Fiscal Policy, and Macroeconomic Stability
TL;DR: In this article, the authors analyzed the impact of strained government finances on macroeconomic stability and the transmission of fiscal policy, using a variant of the model by Curdia and Woodford (2009), through which sovereign default risk raises funding costs in the private sector.
Journal ArticleDOI
Austerity versus Stimulus? Understanding Fiscal Policy Change at the International Monetary Fund Since the Great Recession
TL;DR: In this paper, the authors trace the evolution of the International Monetary Fund's doctrine to staff politics, more diverse thinking in mainstream economics, and a careful framing of the message through the use of mainstream macroeconomic models.
ReportDOI
Crunch Time: Fiscal Crises and the Role of Monetary Policy*
David Greenlaw,James D. Hamilton,James D. Hamilton,Peter Hooper,Frederic S. Mishkin,Frederic S. Mishkin +5 more
TL;DR: In this paper, the authors analyze the recent experience of advanced economies using both econometric methods and case studies and conclude that countries with debt above 80% of GDP and persistent current-account deficits are vulnerable to a rapid fiscal deterioration as a result of these tipping-point dynamics.
Journal ArticleDOI
Fiscal Spillovers in the Euro Area
TL;DR: In this paper, the authors analyzed the dynamic effects of fiscal imbalances in a given EMU member state on the borrowing costs of other countries in the euro area and found that euro-denominated government yields are strongly linked with each other.
Posted Content
Bond Yields in Emerging Economies: It Matters What State You are in
Laura Jaramillo,Anke Weber +1 more
TL;DR: In this article, the extent to which fiscal variables affect domestic bond yields in emerging economies depends on the level of global risk aversion, and during calm times in global markets, fiscal variables do not seem to be a significant determinant of domestic bond yield.