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104 Ergebnisse, ab 71
Externe referierte Aufsätze

Myopic Governments and Welfare-Enhancing Debt Limits

This paper studies welfare effects of a soft borrowing constraint on sovereign debt. The constraint is modeled as a proportional fine per unit of debt in excess of a specified reference value, resembling features of the Stability and Growth Pact. Sovereign debt is the result of myopic fiscal policy. It reduces welfare in the absence of lump-sum taxes. The paper shows that the borrowing constraint enhances ...

In: Journal of Economic Dynamics & Control 38 (2014), S. 250-265 | Malte Rieth
Externe referierte Aufsätze

The Pricing of Sovereign Risk and Contagion during the European Sovereign Debt Crisis

The paper analyses the drivers of sovereign risk for 31 advanced and emerging economies during the European sovereign debt crisis. It shows that a deterioration in countries' fundamentals and fundamentals contagion - a sharp rise in the sensitivity of financial markets to fundamentals - are the main explanations for the rise in sovereign yield spreads and CDS spreads during the crisis, not only for ...

In: Journal of International Money and Finance 34 (2013), S. 60-82 | John Beirne, Marcel Fratzscher
Monographien

Credit Rating Agency Downgrades and the Eurozone Sovereign Debt Crises

Warsaw: Economic Inst., 2014, 37 S.
(National Bank of Poland Working Paper ; 177)
| Christopher F. Baum, Margarita Karpava, Dorothea Schäfer, Andreas Stephan
Externe referierte Aufsätze

Does Euro Area Membership Affect the Relation between GDP Growth and Public Debt?

We analyse the relationship between the debt-to-GDP ratio and real per capita GDP growth for euro area members and a broader set of industrial countries by distinguishing periods of sustainable and non-sustainable debt. Thresholds for debt are theory-driven and depend on macroeconomic conditions. If the nominal interest rate exceeds nominal output growth, primary budget surpluses are required to achieve ...

In: Journal of Macroeconomics 38 (2013), Part B, S. 481-486 | Christian Dreger, Hans-Eggert Reimers
Monographien

Does Euro Area Membership Affect the Relation between GDP Growth and Public Debt?

We analyse the relationship between the debt to GDP ratio and real per capita GDP growth for the euro area members by distinguishing between periods of sustainable and non-sustainable debt. Thresholds are theory-based and depend on the macroeconomic framework. If the interest rate exceeds nominal output growth, primary budget surpluses are required to achieve a sustainable debt ratio. The negative ...

Frankfurt / Oder: Europa-Universität Viadrina, 2012, 14 S.
(Discussion Paper / European University Viadrina Frankfurt (Oder), Department of Business Administration ; 327)
| Christian Dreger, Hans-Eggert Reimers
Diskussionspapiere 1249 / 2012

Does Euro Area Membership Affect the Relation between GDP Growth and Public Debt?

We analyse the relationship between the debt to GDP ratio and real per capita GDP growth for the euro area members by distinguishing between periods of sustainable and non-sustainable debt. Thresholds are theory-based and depend on the macroeconomic framework. If the interest rate exceeds nominal output growth, primary budget surpluses are required to achieve a sustainable debt ratio. The negative ...

2012| Christian Dreger, Hans-Eggert Reimers
Vierteljahrshefte zur Wirtschaftsforschung 2 / 2013

Die Schuldenkrise im Euroraum: Entstehung, Entwicklung und wirtschaftspolitische Handlungsoptionen: Editorial

2013| Christian Dreger
Vierteljahrshefte zur Wirtschaftsforschung 2 / 2013

Beeinflusst die Mitgliedschaft im Euroraum den Zusammenhang von BIP-Wachstum und öffentlicher Verschuldung?

In diesem Beitrag wird die Beziehung zwischen der Schuldenquote des Staates und dem realen BIP-Wachstum pro Kopf für die Mitgliedstaaten des Euroraums und einer Reihe weiterer Industrieländer untersucht. Dabei wird zwischen Perioden eines nachhaltigen und nicht-nachhaltigen Schuldenstandes differenziert. Liegt die Nominalverzinsung über dem nominalen Wachstum, sind Primärüberschüsse in den öffentlichen ...

2013| Christian Dreger, Hans-Eggert Reimers
Vierteljahrshefte zur Wirtschaftsforschung 4 / 2013

Nachhaltige europäische Konsolidierungspolitik - Chancen und Herausforderungen: Editorial

2013| Dorothea Schäfer, Willi Semmler, Brigitte Young
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