Index Catalog // Research Database

Skip to Content

Switch language English
- Switch language
- Deutsch
- English
- Español
- Français
- Italiano
- Português do Brasil
- 中文
Login

Home
About
Help

Search Research Database

Search Constraints

Start Over

Filtering by: Subject H63 - National budget, deficit, and debt - Debt ; Debt management Remove constraint Subject: H63 - National budget, deficit, and debt - Debt ; Debt management

« Previous | 1 - 10 of 13 | Next »

relevance
title ▲
title ▼
issue number ▼
issue number ▲
date published ▼
date published ▲
date modified ▼
date modified ▲

Number of results to display per page

10 per page
20 per page
50 per page
100 per page

View results as:

List Gallery Masonry Slideshow

Search Results

Resumption of ending in a reputational model of sovereign debt

Creator:

Cole, Harold Linh, 1957-, Dow, James, 1961 -, and English, William B. (William Berkeley), 1960-

Series:

International perspectives on debt, growth, and business cycles

Abstract:

We consider a model of international sovereign debt where repayment is enforced because defaulting nations lose their reputation and consequently, are excluded from international capital markets. Underlying the analysis of reputation is the hypothesis that borrowing countries have different, unobservable, attitudes towards the future. Some regimes are relatively myopic, while others are willing to make sacrifices to preserve their access to debt markets. Nations' preferences, while unobservable, are not fixed but evolve over time according to a Markov process. We make two main points. First we argue that in models of sovereign debt the length of the punishment interval that follows a default should be based on economic factors rather than being chosen arbitrarily. In our model, the length of the most natural punishment interval depends primarily on the preference parameters. Second, we point out that there is a more direct way for governments to regain their reputation. By offering to partially repay loans in default, a government can signal its reliability. This type of signaling can cause punishment interval equilibria to break down. We examine the historical record on lending resumption to argue that in almost all cases, some kind of partial repayment was made.

Subject:

H63 - National budget, deficit, and debt - Debt ; Debt management and F34 - International finance - International lending and debt problems
Limited enforceability and international default

Creator:

Kehoe, Patrick J.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

246

Keyword:

Brazil, Argentina, Latin American debt, External debt, International debt, International credit markets, Venezuela, Mexico, Contract theory, and Peru

Subject:

H63 - National budget, deficit, and debt - Debt ; Debt management, F34 - International finance - International lending and debt problems, and H87 - Miscellaneous issues - International fiscal issues ; International public goods
Debt financing of deposit insurance payments : a policy choice of real import

Creator:

Miller, Preston J. and Todd, Richard M.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

494

Abstract:

This paper investigates the macroeconomic and welfare effects of a particular public finance decision. That decision was to use debt rather than current taxation to finance deposit insurance payments related to the savings and loan debacle. We find that this decision could have significantly raised real interest rates and affected welfare. The analysis is conducted in a dynamic, open-economy, monetary general equilibrium model in which parameters are set based on empirical observations.

Keyword:

Real interest rates, Deposit insurance, Public finance, Savings and loan, Taxation, Welfare, Government debt, and S & L

Subject:

H63 - National budget, deficit, and debt - Debt ; Debt management and G21 - Financial institutions and services - Banks ; Other depository institutions ; Micro finance institutions ; Mortgages
Crude estimates of the effects of federal deficits

Creator:

Miller, Preston J.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

215

Keyword:

Deficit policy, Federal budget deficits, and Inflation

Subject:

H63 - National budget, deficit, and debt - Debt ; Debt management, E42 - Money and interest rates - Monetary systems ; Standards ; Regimes ; Government and the monetary system ; Payment systems, and H62 - National budget, deficit, and debt - Deficit ; Surplus
Examining the proposition that federal budget deficits matter

Creator:

Miller, Preston J.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

220

Description:

WP 220 was presented at The Economic Consequences of Government Deficits : an Economic Policy Conference, cosponsored by the Center for the Study of American Business and the Institute of Banking and Financial Markets at Washington University, St. Louis, Missouri, October 29-30, 1982.

Keyword:

Tax policy, Federal debt, Deficit, Inflation, and Budget policy

Subject:

H63 - National budget, deficit, and debt - Debt ; Debt management, E42 - Money and interest rates - Monetary systems ; Standards ; Regimes ; Government and the monetary system ; Payment systems, E52 - Monetary policy, central banking, and the supply of money and credit - Monetary policy, and H62 - National budget, deficit, and debt - Deficit ; Surplus
Equity risk premium : a solution, the?

Creator:

Mehra, Rajnish. and Prescott, Edward C.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

389

Keyword:

Real interest rates, Debt, Equity, Equity premium puzzle, Rietz theory, Consumption, Risk aversion, and Fiat money

Subject:

H30 - Fiscal policies and behavior of economic agents - General, H63 - National budget, deficit, and debt - Debt ; Debt management, D81 - Information, knowledge, and uncertainty - Criteria for decision-making under risk and uncertainty, and E21 - Macroeconomics : Consumption, saving, production, employment, and investment - Consumption ; Saving ; Wealth
How should taxes be set?

Creator:

Aiyagari, S. Rao.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

424

Keyword:

Tax policy, Tax rates, Tax, Taxation, Taxes , Deficit, Federal government, and Budget management

Subject:

H62 - National budget, deficit, and debt - Deficit ; Surplus and H21 - Taxation, subsidies and revenue - Efficiency ; Optimal taxation
Nontransferable interest-bearing national debt

Creator:

Bryant, John B.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

121

Keyword:

Interest, Money, and Nontransferable bonds

Subject:

H62 - National budget, deficit, and debt - Deficit ; Surplus and G12 - General financial markets - Asset pricing ; Trading volume ; Bond interest rates
Optimal crowding out in a monetarist model

Creator:

Miller, Preston J.

Series:

Working paper (Federal Reserve Bank of Minneapolis. Research Dept.)

Number:

212

Keyword:

Bond issue, Bonds, Inflation policy, Deficit, and Inflation tax

Subject:

H62 - National budget, deficit, and debt - Deficit ; Surplus and E31 - Prices, business fluctuations, and cycles - Price level ; Inflation ; Deflation
The Optimum Quantity of Debt : Additional Files

Creator:

Aiyagari, S. Rao. and McGrattan, Ellen R.

Series:

Staff Reports (Federal Reserve Bank of Minneapolis)

Number:

203

Keyword:

Borrowing constraints, Government debt, and Precautionary saving

Subject:

H6 - National Budget, Deficit, and Debt and E60 - Macroeconomic policy, macroeconomic aspects of public finance, and general outlook - General

« Previous
Next »
1
2

Limit your search

Creator

Miller, Preston J.5
Aiyagari, S. Rao.2
Bryant, John B.2
Cole, Harold Linh, 1957-1
Dow, James, 1961 -1
more Creators »

Resource type

Research Paper11
Conference Proceeding1
Dataset1

Subject

H62 - National budget, deficit, and debt - Deficit ; Surplus7
H63 - National budget, deficit, and debt - Debt ; Debt management6
E31 - Prices, business fluctuations, and cycles - Price level ; Inflation ; Deflation2
E42 - Money and interest rates - Monetary systems ; Standards ; Regimes ; Government and the monetary system ; Payment systems2
F34 - International finance - International lending and debt problems2
more Subjects »

A service of the Federal Reserve Bank of Minneapolis Research Division.

Minneapolis Fed Home

Copyright © 2018 Federal Reserve Bank of Minneapolis

Research Database v2.4.1

Version master updated 15 February 2019