Book ChapterDOI
Sovereign Default Risk and Implications for Fiscal Policy
Gabriel Cuadra,Horacio Sapriza,Robert Kolb +2 more
- pp 301-308
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The article was published on 2011-11-29. It has received 2 citations till now. The article focuses on the topics: Default & Fiscal union.read more
Citations
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Code and data files for "Fiscal Policy and Default Risk in Emerging Markets"
TL;DR: In this article, all Matlab and C++ programs necessary to produce the results of the article were described and a spreadsheet with Mexican data was also provided, along with a spreadsheet containing Mexican data.
MonographDOI
Policy Response to External Shocks: Lessons from the Crisis *
TL;DR: In this paper, a small-scale macroeconomic model of the New Keynesian type was developed to rationalize the evidence that those economies with relatively better economic fundamen- tals were able to implement countercyclical policies.
References
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Journal ArticleDOI
On the Determination of the Public Debt
TL;DR: In this paper, a public debt theory is constructed in which the Ricardian invariance theorem is valid as a first-order proposition but where the dependence excess burden on the timing of taxation implies an optimal time path of debt issue.
Journal ArticleDOI
The Voracity Effect
Aaron Tornell,Philip R. Lane +1 more
TL;DR: In this paper, the authors analyze an economy that lacks a strong legal-political institutional infrastructure and is populated by multiple powerful groups, and they show that a dilution in the concentration of power leads to faster growth and a less procyclical response to shocks.
Posted Content
Business Cycles in Emerging Economies:The Role of Interest Rates
TL;DR: In this paper, the empirical relation between the interest rates that emerging economies face in international capital markets and their business cycles was investigated, showing that interest rate shocks alone can explain 50% of output fluctuations and can generate business cycle patterns consistent with the regularities described above and with the major booms and recessions in Argentina in the last two decades.
Journal ArticleDOI
Business Cycles in Emerging Economies: The Role of Interest Rates
TL;DR: In this paper, the authors present a model of a small open economy, where the real interest rate is decomposed in an international rate and a country risk component, and the model generates business cycles consistent with Argentine data.
Journal ArticleDOI
Fiscal Policy in Latin America
Michael Gavin,Roberto Perotti +1 more
TL;DR: In this paper, the authors used a new, comprehensive database on fiscal outcomes in 13 major Latin American economies which covers central government, local government, and non-financial public enterprises at a reasonably detailed level of aggregation.