The Economics and Law of Sovereign Debt and Default

By U. Panizza, Federico Sturzenegger, Jeromin Zettelmeyer. 2009

533 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/f52013c6f095d6d984725dc2b87b90a6b9e73b67

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In Economics and Econometrics

1. J. Cruces
2. T. Asonuma
3. Christoph Trebesch

In Finance

1. T. Asonuma
2. Christoph Trebesch
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1. T. Asonuma
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Citations in the corpus

• Sovereign Risk and Belief-Driven Fluctuations in the Euro Area (2013, unknown): “Actual haircuts in the case of a sovereign default show large variation; see Panizza et al. (2009) and Moody’s Investors Service (2011).”
• What is a Sustainable Public Debt (2015, unknown): “Panizza, Sturzenegger, and Zettelmeyer (2009), Tomz and Wright (2012) and Aguiar and Amador (2014) provide recent surveys of this literature, and there is also a Chapter in this volume dedicated to the topic.”
• Sovereign Defaults: The Price of Haircuts (2011, methodology): “  2 See the surveys by Eaton and Fernandez (1995) and Panizza et al. (2009), as well as the papers by Eichengreen (1989), Jorgensen and Sachs (1989), Lindert and Morton (1989), Özler (1993), Dell’Ariccia et al. (2006), Borensztein and Panizza (2009), Gelos et al. (2011) and Sandleris (2012).”
• External Liabilities and Crises (2013, unknown): “Finally, our finding that NFL composition matters and that its effect on crisis risk is strongest for the debt component is consistent with standard sovereign debt models, which have long focused on the ratio of external debt liabilities to GDP as a key gauge of default risk (Eaton and Gersovitz, 19”
• Sovereign Debt Restructurings: Preemptive or Post-Default (2015, background): “Moreover, we choose a more general definition of pre-default restructurings (in line with Panizza et al. (2009) or the IMF (2013)) and provide a new dataset that goes back to the 1970s.”
• Financial Crises: Explanations, Types, and Implications (2013, unknown): “5 In Rajan’s (2005) “alpha-seeking” argument, firms, asset managers, and traders take more risk to improve returns, with private rewards in the short-run.”
• The Greek Debt Restructuring: An Autopsy (2013, unknown): “3 3 For recent surveys of the literature see Panizza et al. (2009), Wright (2011), Das et al. (2012), Tomz and Wright (2013) and Aguiar and Amador (forthcoming).”
• How do governments respond after catastrophes ? natural-disaster shocks and the fiscal stance (2011, unknown): “30 Pedroni, P. (2004). Panel Cointegration: Asymptotic and Nite Sample Properties of Pooled Time Series Tests With An Application To the PPP Hypothesis.”
• How Costly are Debt Crises? (2011, unknown): “• An alternative dataset of debt crises episodes is the one constructed by Reinhart et al. (2003). The authors identify 31 debt crises episodes over the period 1970-2001 using the dates reported in Beim and Calomiris (2001) on defaults and restructurings, and Standard and Poor’s Credit Week informat”