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dc.contributor.authorStähler, Nikolaien_US
dc.date.accessioned2011-08-18en_US
dc.date.accessioned2011-08-30T12:53:56Z-
dc.date.available2011-08-30T12:53:56Z-
dc.date.issued2011en_US
dc.identifier.isbn978-3-86558-729-9en_US
dc.identifier.urihttp://hdl.handle.net/10419/48871-
dc.description.abstractThe current crisis and discussions, in the euro area in particular, show that sovereign debt crises/defaults are no longer restricted to developing economies. After crises in many Latin American countries, the literature on quantitative dynamic macro-models of sovereign default has been advancing. Current debate should take notice of the findings from this literature - an extensive overview of which has been provided in this paper. This paper also discusses the difficulties involved in, but also possibilities of, integrating this type of model in standard business cycle models (RBC and DSGE models). This is likely to be particularly helpful when using models to analyse upcoming issues in the euro area, such as a suitable (sovereign) insolvency law or the assumption of joint liability.en_US
dc.language.isoengen_US
dc.publisherDt. Bundesbank Frankfurt, M.en_US
dc.relation.ispartofseriesDiscussion Paper Series 1: Economic Studies 2011,17en_US
dc.subject.jelF34en_US
dc.subject.jelF41en_US
dc.subject.jelE21en_US
dc.subject.jelE32en_US
dc.subject.jelG10en_US
dc.subject.ddc330en_US
dc.subject.keywordSovereign Debten_US
dc.subject.keywordDefault Risken_US
dc.subject.keywordEndogenous Borrowing Constraintsen_US
dc.subject.keywordSmall Open Economyen_US
dc.subject.stwStaatsbankrotten_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwWirtschaftsmodellen_US
dc.subject.stwReal Business Cycleen_US
dc.subject.stwDynamisches Gleichgewichten_US
dc.subject.stwKleines-offenes-Landen_US
dc.subject.stwTheorieen_US
dc.titleRecent developments in quantitative models of sovereign defaulten_US
dc.typeWorking Paperen_US
dc.identifier.ppn666313210en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:bubdp1:201117-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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