| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18303 |
| 来源ID | Working Paper 18303 |
| Banks, Sovereign Debt and the International Transmission of Business Cycles | |
| Luca Guerrieri; Matteo Iacoviello; Raoul Minetti | |
| 发表日期 | 2012-08-17 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | This paper studies the international propagation of sovereign debt default. We posit a two-country economy where capital constrained banks grant loans to firms and invest in bonds issued by the domestic and the foreign government. The model economy is calibrated to data from Europe, with the two countries representing the Periphery (Greece, Italy, Portugal and Spain) and the Core, respectively. Large contractionary shocks in the Periphery trigger sovereign default. We find sizable spillover effects of default from Periphery to the Core through a drop in the volume of credit extended by the banking sector. |
| 主题 | International Economics ; International Macroeconomics ; Financial Economics ; Financial Institutions ; Public Economics ; National Fiscal Issues |
| URL | https://www.nber.org/papers/w18303 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575978 |
| 推荐引用方式 GB/T 7714 | Luca Guerrieri,Matteo Iacoviello,Raoul Minetti. Banks, Sovereign Debt and the International Transmission of Business Cycles. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18303.pdf（316KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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