The Dynamics of Sovereign Default Risk and Political Turnover

Cite This

Files in this item

Checksum: MD5:fae82e5f94388074093a30b83acd36eb

SCHOLL, Almuth, 2015. The Dynamics of Sovereign Default Risk and Political Turnover

@techreport{Scholl2015Dynam-32695, series={Working Paper Series / Department of Economics}, title={The Dynamics of Sovereign Default Risk and Political Turnover}, year={2015}, number={2015-05}, author={Scholl, Almuth} }

<rdf:RDF xmlns:dcterms="" xmlns:dc="" xmlns:rdf="" xmlns:bibo="" xmlns:dspace="" xmlns:foaf="" xmlns:void="" xmlns:xsd="" > <rdf:Description rdf:about=""> <dcterms:title>The Dynamics of Sovereign Default Risk and Political Turnover</dcterms:title> <bibo:uri rdf:resource=""/> <dspace:hasBitstream rdf:resource=""/> <foaf:homepage rdf:resource="http://localhost:8080/jspui"/> <dcterms:hasPart rdf:resource=""/> <dcterms:rights rdf:resource=""/> <dc:contributor>Scholl, Almuth</dc:contributor> <dcterms:issued>2015</dcterms:issued> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> <dc:creator>Scholl, Almuth</dc:creator> <dc:date rdf:datatype="">2016-01-25T13:38:32Z</dc:date> <dc:rights>terms-of-use</dc:rights> <dspace:isPartOfCollection rdf:resource=""/> <dcterms:available rdf:datatype="">2016-01-25T13:38:32Z</dcterms:available> <dcterms:abstract xml:lang="eng">This paper develops a stochastic dynamic politico-economic model of sovereign debt to analyze the interaction of sovereign default risk and political turnover. Two parties differ in their preferred size of public spending which is financed by taxes and external debt. Electoral outcomes are characterized by tradeoffs between the economic benefits from the incumbent's policies against idiosyncratic ideological aspects. Quantitative simulations replicate the typical empirical facts of emerging markets. Endogenous political turnovers increase the parties' discrepancies between debt and default policies. Debt crises are associated with adverse economic shocks and trigger political turnovers. Political turnovers generate defaults even without negative shocks.</dcterms:abstract> <dcterms:isPartOf rdf:resource=""/> <dc:language>eng</dc:language> </rdf:Description> </rdf:RDF>

Downloads since Jan 25, 2016 (Information about access statistics)

Scholl_0-318852.pdf 317

This item appears in the following Collection(s)

Search KOPS


My Account