Arellano, Cristina, Atkeson, Andrew, Wright, Mark, (2016), “External and Public Debt Crises”, NBER Macroeconomics Annual, Volume 30 Number 1
At the end of the first decade of the twenty-first century, the members of two advanced monetary and economic unions, the nations of the euro zone and the US States, experienced debt crises with spreads on government borrowing rising dramatically: in a short period of time, Californian spreads rose sixfold, Italian rose tenfold, Illinois fifteenfold and Portuguese twenty-five fold.
Relevant Posts
- Arellano, Cristina , Atkeson, Andy , L. J. Wright, Mark, (2016), “Debt crises in Europe and US states: Sovereign spillovers on private borrowers”, Voxeu, 10 January
- Asonuma, Tamon, Trebesch, Christoph, (2015), “Sovereign Debt Restructurings: Preemptive or Post-Default”, Centre for Economic Policy Research, Νovember