IMF Staff Papers, Volume 56, No. 4

IMF Staff Papers, Volume 56, No. 4
Author :
Publisher : International Monetary Fund
Total Pages : 296
Release :
ISBN-10 : 9781589069107
ISBN-13 : 1589069102
Rating : 4/5 (102 Downloads)

Book Synopsis IMF Staff Papers, Volume 56, No. 4 by : International Monetary Fund. Research Dept.

Download or read book IMF Staff Papers, Volume 56, No. 4 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2009-11-04 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically evaluates four types of costs that may result from an international sovereign default: reputational costs, international trade exclusion costs, costs to the domestic economy through the financial system, and political costs to the authorities. It finds that the economic costs are generally significant but short-lived, and sometimes do not operate through conventional channels. The political consequences of a debt crisis, by contrast, seem to be particularly dire for incumbent governments and finance ministers, broadly in line with what happens in currency crises.


IMF Staff Papers, Volume 56, No. 4 Related Books