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Sustainability vs credibility of fiscal consolidation
16 references·0 citing·56 second hopsampled
Sustainability vs credibility of fiscal consolidation (2015)Sustainability vs credibility of fiscal c…The Governance of a Fragile Eurozone (2014)The Governance of a Fragile E…Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies (2013)Fiscal Fatigue, Fiscal Space …The Governance of a Fragile Eurozone (2012)The Governance of a Fragile E…Sovereign spreads in the eurozone: which prospects for a Eurobond? (2012)Sovereign spreads in the euro…Self-fulfilling crises in the Eurozone: An empirical test (2012)Self-fulfilling crises in the…What Explains the Surge in Euro Area Sovereign Spreads during the Financial Crisis of 2007–09? (2010)What Explains the Surge in Eu…Sovereign Spreads: Global Risk Aversion, Contagion or Fundamentals? (2010)Sovereign Spreads: Global Ris…Debt Consolidation and Fiscal Stabilization of Deep Recessions (2010)Debt Consolidation and Fiscal…What drives spreads in the euro area government bond market? (2009)What drives spreads in the eu…Euro Area Sovereign Risk During the Crisis (2009)Euro Area Sovereign Risk Duri…Debt sustainability in the European Monetary Union: Theory and empirical evidence for selected countries (2006)Debt sustainability in the Eu…Self-Fulfilling Debt Crises (2000)Self-Fulfilling Debt CrisesThe Behavior of U. S. Public Debt and Deficits (1998)The Behavior of U. S. Public …The Sustainability of Budget Deficits in a Stochastic Economy (1995)The Sustainability of Budget …Models of Currency Crises with Self-Fulfilling Features (1995)Models of Currency Crises wit…Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661. (1989)Servicing the Public Debt: Th…Crises and Prices: Information Aggregation, Multiplicity, and VolatilityRules Rather than Discretion: The Inconsistency of Optimal Plans (1977)Staggered prices in a utility-maximizing framework (1983)Default Risk on Government Debt in OECD Countries (1992)Staggered Prices in a Utility-Maximizing Framework (1996)Signaling in a Global Game: Coordination and Policy Traps (2006)A Monetary History of the United States 1867-1960. (1966)Towards a Macroprudential Framework for Financial Supervision and Regulation? (2005)Monetary Union, Fiscal Crisis and the Pre-emption of Democracy (2011)Politicising Europe (2016)Who Borrows from the Lender of Last Resort? (2016)1. The Pain of Original Sin (2019)Optimal fiscal and monetary policy in an economy without capital (1983)Optimal Taxation of Capital Income in General Equilibrium with Infinite Lives (1986)Foundations of International Macroeconomics (1997)Financial Contagion Journal of Political Economy (1998)The Economics and Law of Sovereign Debt and Default (2009)Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy (2015)Debt with Potential Repudiation: Theoretical and Empirical Analysis (1981)Initial conditions and moment restrictions in dynamic panel data models (1995)Growth in a Time of Debt (2010)Public debt and economic growth: Is there a causal effect? (2014)Public debt and growth: Heterogeneity and non-linearity (2015)Is There a Debt-Threshold Effect on Output Growth? (2016)On the Determination of the Public Debt (1979)The American Business Cycle (1986)Tests for Parameter Instability and Structural Change With Unknown Change Point (1993)Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint? (2006)ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES* (1974)By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior (1999)Market Liquidity and Funding Liquidity (2008)Government bond risk premiums in the EU revisited: The impact of the financial crisis (2010)Mind the Gap: Disentangling Credit and Liquidity in Risk Spreads (2010)Systemic risk in European sovereign debt markets: A CoVaR-copula approach (2014)A Model of Balance-of-Payments Crises (1979)A Positive Theory of Monetary Policy in a Natural Rate Model (1983)Multimarket Oligopoly: Strategic Substitutes and Complements (1985)The Twin Crises: The Causes of Banking and Balance-of-Payments Problems (1996)Economic Crises: Evidence and Insights from East Asia (1998)Official Intervention in the Foreign Exchange Market: Is It Effective and, If So, How Does It Work? (2001)Asset Prices in an Exchange Economy (1978)The equity premium: A puzzle (1985)Government budget deficits and trade deficits Are present value constraints satisfied in long-term data? (1995)Fiscal Sustainability: The Unpleasant European Case (2005)International evidence on fiscal solvency: Is fiscal policy “responsible”? (2008)Bank Runs, Deposit Insurance, and Liquidity (1983)Spurious regression and residual-based tests for cointegration in panel data (1999)Measuring bilateral spillover and testing contagion on sovereign bond markets in Europe (2014)Varieties of capitalism in light of the euro crisis (2017)EMU risk-synchronisation and financial fragility through the prism of dynamic connectedness (2020)Fiscal Institutions and Fiscal Performance (1999)Cluster-Sample Methods in Applied Econometrics (2003)Robust Standard Errors for Panel Regressions with Cross-Sectional Dependence (2007)Sovereign bond yield spreads: A time-varying coefficient approach (2011)The Greek financial crisis: Growing imbalances and sovereign spreads (2011)Credit spread interdependencies of European states and banks during the financial crisis (2012)
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References

  • 1998The Behavior of U. S. Public Debt and Deficits1,579 cited
  • 1995Models of Currency Crises with Self-Fulfilling Features1,058 cited
  • 2000Self-Fulfilling Debt Crises739 cited
  • 2013Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies686 cited
  • 2012Self-fulfilling crises in the Eurozone: An empirical test631 cited
  • 1995The Sustainability of Budget Deficits in a Stochastic Economy459 cited
  • 1989Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661.450 cited
  • 2012The Governance of a Fragile Eurozone375 cited
  • 2010What Explains the Surge in Euro Area Sovereign Spreads during the Financial Crisis of 2007–09?312 cited
  • 2009What drives spreads in the euro area government bond market?301 cited
  • 2009Euro Area Sovereign Risk During the Crisis188 cited

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2012
Sovereign spreads in the eurozone: which prospects for a Eurobond?
172 cited
  • 2010Debt Consolidation and Fiscal Stabilization of Deep Recessions169 cited
  • 2010Sovereign Spreads: Global Risk Aversion, Contagion or Fundamentals?160 cited
  • 2014The Governance of a Fragile Eurozone147 cited
  • 2006Debt sustainability in the European Monetary Union: Theory and empirical evidence for selected countries143 cited
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