Banks, Government Bonds, and Default

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498391990
Total Pages : 53 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Banks, Government Bonds, and Default by : Nicola Gennaioli

Download or read book Banks, Government Bonds, and Default written by Nicola Gennaioli and published by International Monetary Fund. This book was released on 2014-07-08 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold many public bonds (on average 9% of their assets), particularly in less financially-developed countries. During sovereign defaults, banks increase their exposure to public bonds, especially large banks and when expected bond returns are high. At the bank level, bondholdings correlate negatively with subsequent lending during sovereign defaults. This correlation is mostly due to bonds acquired in pre-default years. These findings shed light on alternative theories of the sovereign default-banking crisis nexus.

American Default

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Author :
Publisher : Princeton University Press
ISBN 13 : 0691196044
Total Pages : 288 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis American Default by : Sebastian Edwards

Download or read book American Default written by Sebastian Edwards and published by Princeton University Press. This book was released on 2019-09-10 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The untold story of how FDR did the unthinkable to save the American economy.

Why Not Default?

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Author :
Publisher : Princeton University Press
ISBN 13 : 0691184933
Total Pages : 398 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Why Not Default? by : Jerome E. Roos

Download or read book Why Not Default? written by Jerome E. Roos and published by Princeton University Press. This book was released on 2019-02-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled long-standing debates about the power of finance and the fraught relationship between capitalism and democracy in a globalized world. Why Not Default? unravels a striking puzzle at the heart of these debates—why, despite frequent crises and the immense costs of repayment, do so many heavily indebted countries continue to service their international debts? In this compelling and incisive book, Jerome Roos provides a sweeping investigation of the political economy of sovereign debt and international crisis management. He takes readers from the rise of public borrowing in the Italian city-states to the gunboat diplomacy of the imperialist era and the wave of sovereign defaults during the Great Depression. He vividly describes the debt crises of developing countries in the 1980s and 1990s and sheds new light on the recent turmoil inside the Eurozone—including the dramatic capitulation of Greece’s short-lived anti-austerity government to its European creditors in 2015. Drawing on in-depth case studies of contemporary debt crises in Mexico, Argentina, and Greece, Why Not Default? paints a disconcerting picture of the ascendancy of global finance. This important book shows how the profound transformation of the capitalist world economy over the past four decades has endowed private and official creditors with unprecedented structural power over heavily indebted borrowers, enabling them to impose painful austerity measures and enforce uninterrupted debt service during times of crisis—with devastating social consequences and far-reaching implications for democracy.

The Political Economy of Sovereign Default

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Author :
Publisher : Graduate Institute Publications
ISBN 13 : 2940503087
Total Pages : pages
Book Rating : 4.9/5 (45 download)

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Book Synopsis The Political Economy of Sovereign Default by : Sebastian Hohmann

Download or read book The Political Economy of Sovereign Default written by Sebastian Hohmann and published by Graduate Institute Publications. This book was released on 2012-08-21 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: What do self-interested governments’ needs to maintain loyal groups of supporters imply for sovereign incentives to repay debt? Many sovereign defaults have occurred at relatively low levels of debt, while some highly indebted nations continue to honour their obligations. This poses a problem for traditional models of sovereign debt, which rely on the threat of economic sanctions to explain why and when a representative agent seeking to maximise social welfare would choose debt-repayment. The political-economy model of sovereign default developed in this ePaper shows that those governments that depend on small groups of loyalists drawn from large populations are more likely to default on sovereign debt than those governments dependent on large groups of supporters. These findings contribute to a growing body of literature on the importance of institutions in sovereign debt and default.

Government by Default

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Author :
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (814 download)

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Book Synopsis Government by Default by : Blackwell Smith

Download or read book Government by Default written by Blackwell Smith and published by . This book was released on 1938 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Learn about the United States

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Author :
Publisher : Government Printing Office
ISBN 13 : 9780160831188
Total Pages : 36 pages
Book Rating : 4.8/5 (311 download)

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Book Synopsis Learn about the United States by : U.S. Citizenship and Immigration Services

Download or read book Learn about the United States written by U.S. Citizenship and Immigration Services and published by Government Printing Office. This book was released on 2009 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Learn About the United States" is intended to help permanent residents gain a deeper understanding of U.S. history and government as they prepare to become citizens. The product presents 96 short lessons, based on the sample questions from which the civics portion of the naturalization test is drawn. An audio CD that allows students to listen to the questions, answers, and civics lessons read aloud is also included. For immigrants preparing to naturalize, the chance to learn more about the history and government of the United States will make their journey toward citizenship a more meaningful one.

Oregon Blue Book

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Author :
Publisher :
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Oregon Blue Book by : Oregon. Office of the Secretary of State

Download or read book Oregon Blue Book written by Oregon. Office of the Secretary of State and published by . This book was released on 1919 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Democracy, Dictatorship, and Default

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1108875319
Total Pages : 211 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Democracy, Dictatorship, and Default by : Cameron Ballard-Rosa

Download or read book Democracy, Dictatorship, and Default written by Cameron Ballard-Rosa and published by Cambridge University Press. This book was released on 2020-08-13 with total page 211 pages. Available in PDF, EPUB and Kindle. Book excerpt: The International Monetary Fund (IMF) predicts that, in the coming years, more than fifty countries are at risk of default. Yet we understand little about the political determinants of this decision to renege on promises to international creditors. This book develops and tests a unified theory of how domestic politics explains sovereign default across dictatorships and democracies. Professor Ballard-Rosa argues that both democratic and autocratic governments will choose to default when it is necessary for political survival; however, regime type has a significant impact on what specific kinds of threats leaders face. While dictatorships are concerned with avoiding urban riots, democratic governments are concerned with losing elections, in particular the support of rural voting blocs. Using cross-national data and historical case studies, Ballard-Rosa shows that leaders under each regime type are more likely to default when doing so allows them to keep funding costly policies supporting critical bases of support.

The Economics of Sovereign Debt and Default

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Author :
Publisher : Princeton University Press
ISBN 13 : 0691189242
Total Pages : 200 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis The Economics of Sovereign Debt and Default by : Mark Aguiar

Download or read book The Economics of Sovereign Debt and Default written by Mark Aguiar and published by Princeton University Press. This book was released on 2021-12-21 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: An integrated approach to the economics of sovereign default Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt—the lack of strong legal enforcement—and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to “dilute” existing creditors, and sovereign debt’s distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation—one chosen to maximize the joint surplus of creditors and government—with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government’s debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic.

Has the U. S. Government Ever Defaulted ?

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Author :
Publisher :
ISBN 13 : 9781709048456
Total Pages : 26 pages
Book Rating : 4.0/5 (484 download)

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Book Synopsis Has the U. S. Government Ever Defaulted ? by : Congressional Research Congressional Research Service

Download or read book Has the U. S. Government Ever Defaulted ? written by Congressional Research Congressional Research Service and published by . This book was released on 2019-11-17 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: During recent debt limit episodes, federal officials have contended that if the debt limit were to constrain the government's ability to meet its obligations, that would be an unprecedented blemish on the nation's credit. For example, the U.S. Treasury has asserted that "(f)ailing to increase the debt limit would have catastrophic economic consequences. It would cause the government to default on its legal obligations" or that it "would represent an irresponsible retreat from a core American value: we are a nation that honors all of its commitments. It would cause the government to default on its legal obligations." Failure to pay obligations on time is regarded as a central indicator of default, although default may be triggered by a wide range of contractual provisions. More generally, the concept of default stems from contract law, and thus may be ambiguous because contract terms may be private or contracts may be incomplete, in that the consequences of some contingencies are left unspecified. For instance, the terms under which Treasury securities are offered lack any mention of payment delays or nonpayment. The ambiguity of the term "default" leads many third parties to develop their own definitions to monitor compliance with promises to pay. The U.S. Treasury in some historical instances was unable to pay all its obligations on time or made payments on terms that disappointed creditors. Those instances resulted from extraordinary stresses on public finances. Over time, the United States has managed its finances so that its credit history compares favorably to nearly all other advanced countries.

Government by Default

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Author :
Publisher : Forgotten Books
ISBN 13 : 9780260066992
Total Pages : 24 pages
Book Rating : 4.0/5 (669 download)

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Book Synopsis Government by Default by : Job Elmer Hedges

Download or read book Government by Default written by Job Elmer Hedges and published by Forgotten Books. This book was released on 2017-10-31 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Government by Default: Address Before the Association of Life Insurance Counsel at Washington, D. C., May 12, 1920 Thou shalt not steal and Honesty is the best policy unindicted men have lived their lives. In final essence we may well study, as in fact we must, the psychology of the public at large in its relation to government and law in addition to increasing our specialized knowledge. This suggestion brings me face on to what seems to me a reversal of the theory of the fathers and which may well be termed Government by Default - the subject of my paper. Ourcivic progenitors did not have, nor could they have had, a full comprehension of the development of this country. Could they have imagined either its numerical size, its material growth or its complicated present-day questions, they might well have hesitated ln launching the small, but sturdy, bark of the Constitution upon the tempestuous seas of uncertainty. Their wisdom, however, -without comprehensive forecast, of present conditions, was greater than is ours who live in the midst of those conditions. They sought a few general fundamental ideas, capab1e of growth, broad enough for unlimited expansion With provision to meet them as they occurred. It remains with us to solve these problems and, however great our intelligence and experience regarding them may be, the lamp to our feet and the light to our path require the most absorbing study, analysis and appreciation of the conceptions of the fathers. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Model Rules of Professional Conduct

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Author :
Publisher : American Bar Association
ISBN 13 : 9781590318737
Total Pages : 216 pages
Book Rating : 4.3/5 (187 download)

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Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

Simpler

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Author :
Publisher : Simon and Schuster
ISBN 13 : 1476726612
Total Pages : 272 pages
Book Rating : 4.4/5 (767 download)

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Book Synopsis Simpler by : Cass R. Sunstein

Download or read book Simpler written by Cass R. Sunstein and published by Simon and Schuster. This book was released on 2013-04-09 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simpler government arrived four years ago. It helped put money in your pocket. It saved hours of your time. It improved your children’s diet, lengthened your life span, and benefited businesses large and small. It did so by issuing fewer regulations, by insisting on smarter regulations, and by eliminating or improving old regulations. Cass R. Sunstein, as administrator of the most powerful White House office you’ve never heard of, oversaw it and explains how it works, why government will never be the same again (thank goodness), and what must happen in the future. Cutting-edge research in behavioral economics has influenced business and politics. Long at the forefront of that research, Sunstein, for three years President Obama’s “regulatory czar” heading the White House Office of Information and Regulatory Affairs, oversaw a far-reaching restructuring of America’s regulatory state. In this highly anticipated book, Sunstein pulls back the curtain to show what was done, why Americans are better off as a result, and what the future has in store. The evidence is all around you, and more is coming soon. Simplified mortgages and student loan applications. Scorecards for colleges and universities. Improved labeling of food and energy-efficient appliances and cars. Calories printed on chain restaurant menus. Healthier food in public schools. Backed by historic executive orders ensuring transparency and accountability, simpler government can be found in new initiatives that save money and time, improve health, and lengthen lives. Simpler: The Future of Government will transform what you think government can and should accomplish.

Government Printing and Binding Regulations

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Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Government Printing and Binding Regulations by : United States. Congress. Joint Committee on Printing

Download or read book Government Printing and Binding Regulations written by United States. Congress. Joint Committee on Printing and published by . This book was released on 1990 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Government by Default as Demonstrated by the U.S. Senatorial Elections of 1922

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Author :
Publisher :
ISBN 13 :
Total Pages : 1 pages
Book Rating : 4.:/5 (72 download)

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Book Synopsis Government by Default as Demonstrated by the U.S. Senatorial Elections of 1922 by : National Security League

Download or read book Government by Default as Demonstrated by the U.S. Senatorial Elections of 1922 written by National Security League and published by . This book was released on 1922* with total page 1 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Soldiers' and Sailors' Civil Relief Act

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Author :
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Soldiers' and Sailors' Civil Relief Act by : United States

Download or read book Soldiers' and Sailors' Civil Relief Act written by United States and published by . This book was released on 1961 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The NSA Report

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Publisher : Princeton University Press
ISBN 13 : 1400851270
Total Pages : 287 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The NSA Report by : President's Review Group on Intelligence and Communications Technologies, The

Download or read book The NSA Report written by President's Review Group on Intelligence and Communications Technologies, The and published by Princeton University Press. This book was released on 2014-03-31 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: The official report that has shaped the international debate about NSA surveillance "We cannot discount the risk, in light of the lessons of our own history, that at some point in the future, high-level government officials will decide that this massive database of extraordinarily sensitive private information is there for the plucking. Americans must never make the mistake of wholly 'trusting' our public officials."—The NSA Report This is the official report that is helping shape the international debate about the unprecedented surveillance activities of the National Security Agency. Commissioned by President Obama following disclosures by former NSA contractor Edward J. Snowden, and written by a preeminent group of intelligence and legal experts, the report examines the extent of NSA programs and calls for dozens of urgent and practical reforms. The result is a blueprint showing how the government can reaffirm its commitment to privacy and civil liberties—without compromising national security.