 | Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel Author/Editor: Tamon Asonuma, Marcos d Chamon, Aitor Erce, Akira Sasahara. Release Date:March, 2019 Sovereign debt restructurings are associated with declines in GDP, investment, bank credit, and capital flows. The transmission channels and associated output and banking sector costs depend on more...
| Price: $18.00
|
| Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky? Author/Editor: Tamon Asonuma, Michael G Papaioannou, Eriko Togo, Bert van Selm. Release Date:May, 2018 This paper examines the causes, processes, and outcomes of Belize’s 2016–17 sovereign debt restructuring—its third episode in last 10 years. As was the case in the earlier two restructurings, more...
| Price: $18.00
|
| Sovereign Bond Prices, Haircuts and Maturity Author/Editor: Tamon Asonuma, Dirk Niepelt, Romain Ranciere. Release Date:May, 2017 Rejecting a common assumption in the sovereign debt literature, we document that creditor losses (“haircuts”) during sovereign restructuring episodes are asymmetric across debt instruments. We more...
| Price: $18.00
|
| Trade Costs of Sovereign Debt Restructurings : Does a Market-Friendly Approach Improve the Outcome? Author/Editor: Tamon Asonuma, Marcos Chamon, Akira Sasahara. Release Date:November, 2016 Sovereign debt restructurings have been shown to influence the dynamics of imports and exports. This paper shows that the impact can vary substantially depending on whether the restructuring takes more...
| Price: $18.00
|
| Serial Sovereign Defaults and Debt Restructurings Author/Editor: Tamon Asonuma. Release Date:March, 2016 Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again in the future than are non-defaulters even with the same external debt-to-GDP more...
| Price: $18.00
|
| Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics Author/Editor: Tamon Asonuma. Release Date:February, 2016 Emerging countries experience real exchange rate depreciations around defaults. In this paper, we examine this observed pattern empirically and through the lens of a dynamic stochastic general more...
| Price: $18.00
|
| Is Banks' Home Bias Good or Bad for Public Debt Sustainability? Author/Editor: Tamon Asonuma, Said Bakhache, Heiko Hesse. Release Date:February, 2015 Motivated by the recent increase in domestic banks’ holdings of domestic sovereign debt(i.e., home bias) in the European periphery, this paper analyzes implications of banks’home bias for the more...
| Price: $18.00
|
| Sovereign Debt Restructurings in Belize: Achievements and Challenges Ahead Author/Editor: Tamon Asonuma, Gerardo Peraza, Kristine Vitola, Takahiro Tsuda. Release Date:July, 2014 This paper examines the causes, processes, and outcomes of the two Belize sovereign debt restructurings in 2006–07 and in 2012–13 that occurred outside of an IMF-supported program. It finds that more...
| Price: $18.00
|
 | Building a Common Future in Southern Africa Release Date:April, 2013 The Southern African Customs Union (SACU) is the oldest customs union in the world, with significant opportunities ahead for creating higher economic growth and increased welfare benefits to the more...
| Price: $30.00
|
 | Welfare Effects of Monetary Integration: the Common Monetary Area and Beyond Author/Editor: Tamon Asonuma, Xavier Debrun, Paul R. Masson. Release Date:May, 2012 This paper proposes a quantitative assessment of the welfare effects arising from the Common Monetary Area (CMA) and an array of broader grouping among Southern African Development Community (SADC) more...
| Price: $18.00
|
|
Help