Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/40006
Título: | Financial stress and sovereign debt composition |
Autor(es): | Agnello, Luca Castro, Vítor Jalles, João Tovar Sousa, Ricardo M. |
Palavras-chave: | Financial stress Sovereign debt composition Currency Maturity Holders Marketability H63 H12 G01 G15 |
Data: | 2016 |
Editora: | Taylor and Francis |
Revista: | Applied economics letters |
Resumo(s): | Using a panel of 13 advanced economies for the period 1980–2012, we find that periods of impaired financial intermediation mainly accrue to maturity mismatches in sovereign debt. Thus, a higher (lower) share of short-term (medium and long-term) debt leads to an increase in the financial stress index. From a policy perspective, our work suggests that debt management policies translated into longer average maturities of sovereign debt not only reduce the expected debt servicing cost, but also mitigate strains in the financial sector. |
Tipo: | Artigo |
Descrição: | "Published online: 19 Oct 2015" |
URI: | https://hdl.handle.net/1822/40006 |
DOI: | 10.1080/13504851.2015.1100241 |
ISSN: | 1350-4851 1466-4291 |
Versão da editora: | http://www.tandfonline.com/doi/pdf/10.1080/13504851.2015.1100241 |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Financial stress and sovereign debt composition.pdf Acesso restrito! | 2,42 MB | Adobe PDF | Ver/Abrir |