| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21456 |
| 来源ID | Working Paper 21456 |
| External and Public Debt Crises | |
| Cristina Arellano; Andrew Atkeson; Mark Wright | |
| 发表日期 | 2015-08-17 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | The recent debt crises in Europe and the U.S. states feature similar sharp increases in spreads on government debt but also show important differences. In Europe, the crisis occurred at high government indebtedness levels and had spillovers to the private sector. In the United States, state government indebtedness was low, and the crisis had no spillovers to the private sector. We show theoretically and empirically that these different debt experiences result from the interplay between differences in the ability of governments to interfere in private external debt contracts and differences in the flexibility of state fiscal institutions. |
| 主题 | International Economics ; International Finance ; Public Economics ; Subnational Fiscal Issues ; Other ; Law and Economics |
| URL | https://www.nber.org/papers/w21456 |
| 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/579131 |
| 推荐引用方式 GB/T 7714 | Cristina Arellano,Andrew Atkeson,Mark Wright. External and Public Debt Crises. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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