The costs of sovereign default

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100 1 ⊔ ‡aBorensztein, Eduardo.
245 1 4 ‡aThe costs of sovereign default / ‡cprepared by Eduardo Borensztein and Ugo Panizza.
260 ⊔ ⊔ ‡aWashington, D.C. : ‡bInternational Monetary Fund, Research Dept., ‡c2008.
300 ⊔ ⊔ ‡a50 p. : ‡bill. ; ‡c28 cm.
490 ⊔ 0 ‡aIMF working paper ; ‡vWP/08/238
500 ⊔ ⊔ ‡aAt head of title: Research Department.
500 ⊔ ⊔ ‡a"October 2008."
504 ⊔ ⊔ ‡aIncludes bibliographical references (p. 24-27).
520 ⊔ ⊔ ‡aThis paper evaluates empirically four types of cost that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.
530 ⊔ ⊔ ‡aAlso available via the World Wide Web.
538 ⊔ ⊔ ‡aMode of access: Internet.
650 ⊔ 6 ‡aRisque pays ‡xModèles économétriques.
650 ⊔ 6 ‡aEffets publics ‡xModèles économétriques.
650 ⊔ 6 ‡aBanques ‡xFaillites ‡xModèles économétriques.
650 ⊔ 6 ‡aCrises financières ‡xModèles économétriques.
650 ⊔ 6 ‡aDettes publiques.
650 ⊔ 6 ‡aDettes extérieures ‡xModèles économétriques.
650 ⊔ 6 ‡aDéfaillance (Finances) ‡xModèles économétriques.
650 ⊔ 0 ‡aCountry risk ‡xEconometric models.
650 ⊔ 0 ‡aGovernment securities ‡xEconometric models.
650 ⊔ 0 ‡aBank failures ‡xEconometric models.
650 ⊔ 0 ‡aFinancial crises ‡xEconometric models.
650 ⊔ 0 ‡aDebts, Public.
650 ⊔ 0 ‡aDebts, External ‡xEconometric models.
650 ⊔ 0 ‡aDefault (Finance) ‡xEconometric models.
700 1 ⊔ ‡aPanizza, Ugo.
710 2 ⊔ ‡aInternational Monetary Fund. ‡bResearch Dept.
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