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Paying liberal state rise public finance nineteenth century europe | Economics: general interest

Paying liberal state rise public finance nineteenth century europe | Economics: general interest
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United Kingdom , United States , Larry Neal , Michael Pammer , Jan Luiten Van Zanden , Mark Spoerer , Jeffreyg Williamson , Gianni Toniolo , Mark Dincecco , Instituto Laureano Figuerola , Richard Bonney , Peterh Lindert , Giovanni Federico , Historia Economica , Patrick Karl Obrien , Martin Daunton , University Of California , Cardoso Is Research Professor , London School Of Economics , Lucca Institute For Advanced , Historical Research , History Association , University Of Wisconsin , Pedro Lains Is Research Professor , Harvard University , Research In Economic History ,

The aftermath of sovereign debt crises | VOX, CEPR Policy Portal

Rui Esteves, Seán Kenny, Jason Lennard 20 July 2021
There is little consensus on the macroeconomic impacts of sovereign debt crises, despite the regularity of such events. This column quantifies the aggregate costs of defaults using a narrative approach on a large panel of 50 sovereigns between 1870 and 2010. It estimates significant and persistent negative effects of debt crises starting at 1.6% of GDP and peaking at 3.3%, before reverting to trend five years later. In addition, underlying causes matter. Defaults driven by aggregate demand shocks result in short-term contractions, whereas aggregate supply shocks lead to larger, more persistent losses.
Nicola Gennaioli, Alberto Martin, Stefano Rossi ....

United States , United Kingdom , Thomas Griesa , Journal Of The European Economic Association , Princeton University , Empirical Research On Sovereign Debt , Journal Of International Money , Journal Of International Economics , Princeton University Press , Journal Of Development Economics , Financial Times , Canada Technical Report , Sovereign Defaults Hurt , Open Economies Review , Po Gourinchas , Ct Hsieh , Comprehensive Debt Standstill , Monetary Policy Matters , New United Kingdom Narrative , Fiscal Policy , Economic Growth , New Evidence , Great Depression , Interest Rates , Political Uncertainty , International Economics ,

What three economists taught us about currency arrangements

Richard Cooper, Robert Mundell, and John Williamson made important contributions on a variety of topics in international economics throughout their careers, particularly in terms of how we think about currency arrangements. This column reviews the work of all three, tracing their ideas and drawing lessons for policymakers today. ....

New York , United States , University Of Chicago , United Kingdom , Bruxelles Capitale , Nordrhein Westfalen , City Of , World Bank , District Of Columbia , Rudiger Dornbusch Mundell , Robert Mundell , Richard Cooper , Ronald Reagan , Bob Mundell , John Williamson , Mundell Krugman , Paul Krugman , Consensu Williamson , International Economic System , Economic Affairs , Harvard Institute Of Economic Research Working Papers , National Affairs , Palgrave Macmillan , Exchange Arrangements Entering The , Floating Exchange , University Of Chicago Press ,