Defaultable Debt, Interest Rates and the Current Account

By Mark Aguiar, Gita Gopinath. 2004

918 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/ac7ffe1e7c4455f34266bc83f73573f5ebbe7f1d

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Citations in the corpus

Fiscal Rules and the Sovereign Default Premium (2022, neutral): “(3)See, for instance, Aguiar and Gopinath (2006), Arellano (2008), Benjamin and Wright (2008), Boz (2011), Lizarazo (2005, 2006), and Yue (2010). These models share blueprints with the models used in studies of household bankruptcy—see, for example, Athreya et al. (2007), Chatterjee et al. (2007), L”
DO COUNTRIES DEFAULT IN “BAD TIMES”? (2007, positive): “We focus on the model of sovereign default used by Aguiar and Gopinath (2006), which shares some elements with recent papers by Arellano (2005) and Yue (2006).”
What is a Sustainable Public Debt (2015, neutral): “The field became very active again, and with a particular interest in quantitative analysis, in the aftermath of the emerging markets crises of the 1990s (e.g. Aguiar and Gopinath (2006), Arellano (2008), Pitchford and Wright (2012), Yue (2010), Mendoza and Yue (2012)).”
A Model of the Twin Ds: Optimal Default and Devaluation (2015, positive): “…the model developed in this paper builds on recent contributions to the theory of sovereign default in the tradition of Eaton and Gersovitz, especially, Aguiar and Gopinath (2006), Arellano (2008), Hatchondo, Martinez, and Sapriza (2010), Chatterjee and Eyigungor (2012), and Mendoza and Yue (2012).”
Sovereign defaults and banking crises (2018, background): “Quantitative models of sovereign default have received increased attention since the contributions of Aguiar and Gopinath (2006) and Arellano (2008).”
Sovereign Debt Restructurings: Preemptive or Post-Default (2015, methodology): “Column (1) shows results for a bare-bones model with country and year fixed effects and dummies for the current and lagged start of a debt crisis (using our own crisis database).”
A General Equilibrium Model of Sovereign Default and Business Cycles (2011, neutral): “3See, for example, Aguiar and Gopinath (2006), Arellano (2008), Bai and Zhang (2005) and Yue (2010). substitute into other imported and domestic inputs that are imperfect substitutes.”
Default risk and income fluctuations in emerging economies (2008, background): “As table 4 shows, the model matches well the business cycle statistics in Argentina.”
Empirical Research on Sovereign Debt and Default (2013, methodology): “1 Aguiar and Amador 2013 and Wright 2012a review the literature, following early papers by Aguiar and Gopinath 2006, Arellano 2008, and Hamann 2004.”
Default risk and risk averse international investors (2013, background): “In this case, conditional on investors’ wealth W , the main results of comparative statics of the model of endogenous sovereign risk with risk neutral international investors follow (see Aguiar and Gopinath (2006) Arellano(2008)).”
Rethinking the Effects of Financial Globalization (2016, neutral): “The di¤erence between equations (10)-(11) and (4)-(5) is that now domestic residents can hold foreign assets and issue foreign debts.”
The dynamics of sovereign debt crises and bailouts (2016, background): “Beetsma and Uhlig (1999) or Cooper et al. (2010). We study a dynamic endogenous default model à la Eaton and Gersovitz (1981). This framework is commonly used for quantitative studies of sovereign debt and has been shown to generate a plausible behavior of sovereign debt and spread. Within this fram”
Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies (2013, neutral): “2 There is a large body of literature on sovereign default, though most of these papers consider strategic default by developing country governments (see the survey by Eaton and Fernandez (1995) and the recent quantitative studies along the lines of Arellano (2008) and Aguiar and Gopinath (2006)).”