scholarly journals Sovereign debt crises and cross-country assistance

2020 ◽  
Author(s):  
Christian Grisse ◽  
Gisle J Natvik
Keyword(s):  
Side Effects ◽  
Interest Rate ◽  
Public Debt ◽  
Sovereign Debt ◽  
Perfect Foresight ◽  
Adverse Side Effects ◽  
Incentive Compatible ◽  
Cross Country ◽  
Debt Crises

Abstract We provide a parsimonious framework to study the interplay between cross-country assistance and expectations-driven sovereign debt crises. Our framework extends the traditional single-country model of how multiple perfect-foresight equilibria are possible when a sovereign attempts to service public debt. The extension is that a self-interested ‘safe’ country may choose to assist a ‘risky’ country which is prone to default. Investors internalize the potential for assistance when lending to fragile countries. If the safe country cannot commit to fixed cross-country transfers or rule them out completely, assistance improves equilibrium outcomes only if the risky country is fundamentally insolvent in the sense that it cannot repay existing debt at the risk-free interest rate. If a default requires pessimistic expectations, an incentive-compatible (IC) assistance policy has adverse side effects.

Latin America and the Caribbean Standardized Public Debt Database: Data as of December 2019

2020 ◽  
Author(s):  
Keyword(s):  
Latin America ◽  
Financial Markets ◽  
Public Debt ◽  
Sovereign Debt ◽  
Regional Policy ◽  
Debt Management ◽  
Policy Makers ◽  
The Caribbean ◽  
Cross Country ◽  
Clear Objective

The LAC Debt Group believes that to have sound regional policy it is important to have valid, comparable, and standardized data on Latin America and the Caribbean (LAC). Therefore, at the core of the initiative is the development of a standardized sovereign debt database to help debt managers, policy makers, and other actors of financial markets, analyze the composition of public debt in LAC. The information presented in this database is provided by the Debt Management Offices of 26 LAC countries in response to a questionnaire specifically created to allow comparability of data. The questionnaire is intended to compile up-to-date standardized statistics to conduct cross-country comparisons over clear, objective, and homogeneous definitions of public debt.

scholarly journals From Financial Crash to Debt Crisis

2011 ◽  
Vol 101 (5) ◽  
pp. 1676-1706 ◽  
Author(s):  
Carmen M Reinhart ◽  
Kenneth S Rogoff
Keyword(s):  
Time Series ◽  
Public Debt ◽  
Sovereign Debt ◽  
Debt Crisis ◽  
External Debt ◽  
Banking Crises ◽  
Sovereign Default ◽  
Historical Time ◽  
Individual Country ◽  
Debt Crises

Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both “world” aggregate levels and on an individual country basis. First, external debt surges are an antecedent to banking crises. Second, banking crises (domestic and those in financial centers) often precede or accompany sovereign debt crises; we find they help predict them. Third, public borrowing surges ahead of external sovereign default, as governments have “hidden domestic debts” that exceed the better documented levels of external debt. (JEL E44, F34, F44, G01, H63, N20)

Latin America and the Caribbean Standardized Public Debt Database: Data as of December 2020

2021 ◽  
Author(s):  
Keyword(s):  
Latin America ◽  
Financial Markets ◽  
Public Debt ◽  
Sovereign Debt ◽  
Regional Policy ◽  
Debt Management ◽  
Policy Makers ◽  
The Caribbean ◽  
Cross Country ◽  
Clear Objective

The LAC Debt Group believes that to have sound regional policy it is important to have valid, comparable, and standardized data on Latin America and the Caribbean (LAC). Therefore, at the core of the initiative is the development of a standardized sovereign debt database to help debt managers, policy makers, and other actors of financial markets, analyze the composition of public debt in LAC. The information presented in this database is provided by the Debt Management Offices of 26 LAC countries in response to a questionnaire specifically created to allow comparability of data. The questionnaire is intended to compile up-to-date standardized statistics to conduct cross-country comparisons over clear, objective, and homogeneous definitions of public debt.

SARS-CoV-2 Biology Insights, Part I. Genome-wide structure and druggability: literature review (Preprint)

2020 ◽  
Author(s):  
Laura Lafon-Hughes
Keyword(s):  
Side Effects ◽  
Literature Review ◽  
Host Cell ◽  
Nucleoside Analogs ◽  
Viral Proteins ◽  
Therapeutic Strategies ◽  
Adverse Side Effects ◽  
Viral Proteases ◽  
Genome Wide ◽  
Therapeutic Alternatives

BACKGROUND COVID-19 pandemic prompts the study of coronavirus biology and search of putative therapeutic strategies. OBJECTIVE To compare SARS-CoV-2 genome-wide structure and proteins with other coronaviruses, focusing on putative coronavirus-specific or SARS-CoV-2 specific therapeutic designs. METHODS The genome-wide structure of SARS-CoV-2 was compared to that of SARS and other coronaviruses in order to gain insights, doing a literature review through Google searches. RESULTS There are promising therapeutic alternatives. Host cell targets could be modulated to hamper viral replication, but targeting viral proteins directly would be a better therapeutic design, since fewer adverse side effects would be expected. CONCLUSIONS Therapeutic strategies (Figure 1) could include the modulation of host targets (PARPs, kinases) , competition with G-quadruplexes or nucleoside analogs to hamper RDRP. The nicest anti-CoV options include inhibitors of the conserved essential viral proteases and drugs that interfere ribosome slippage at the -1 PRF site.

scholarly journals Pareto Efficient Auctions with Interest Rates

2019 ◽  
Vol 33 ◽  
pp. 1989-1995
Author(s):  
Gagan Goel ◽  
Vahab Mirrokni ◽  
Renato Paes Leme
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Utility Functions ◽  
Limited Access ◽  
Incentive Compatible ◽  
Pareto Efficient ◽  
Available Resources

We consider auction settings in which agents have limited access to monetary resources but are able to make payments larger than their available resources by taking loans with a certain interest rate. This setting is a strict generalization of budget constrained utility functions (which corresponds to infinite interest rates). Our main result is an incentive compatible and Pareto-efficient auction for a divisible multi-unit setting with 2 players who are able to borrow money with the same interest rate. The auction is an ascending price clock auction that bears some similarities to the clinching auction but at the same time is a considerable departure from this framework: allocated goods can be de-allocated in future and given to other agents and prices for previously allocated goods can be raised.

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