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[null,"1.","Record Nr.",null,"UNINA9910462257903321"]
[null,null,"Autore",null,"Adler Gustavo <1974->"]
[null,null,"Titolo",null,"Intertwined sovereign and bank solvencies in a model of self-fulfilling crisis [[electronic resource] /] / Gustavo Adler"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C., : International Monetary Fund, c2012"]
[null,null,"ISBN",null,"1-4755-2939-2"]
[{"$nulls":4},"1-4755-4841-9"]
[null,null,"Descrizione fisica",null,"1 online resource (30 p.)"]
[null,null,"Collana",null,"IMF working paper ; ; WP/12/178"]
[null,null,"Soggetti",null,"Financial crises"]
[{"$nulls":4},"Banks and banking"]
[{"$nulls":4},"Electronic books."]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Description based upon print version of record."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"Cover; Contents; 1. Introduction; 2. Model; 2.1 Households; 2.2 Domestic Financial Intermediaries; 2.3 Firms; 2.4 Government; 2.5 A Competitive Equilibrium; 2.6 A Sustainable Debt Equilibrium; 2.7 A Self-Fulfilling Crisis; 3. Discussion; 3.1 Senior Debt Structure; 3.2 Capital Requirements; 3.3 Public Recapitalization; 4. Conclussions; Figures; 1. Equilibria at Time t; 2. Equilibria with Different Levels of Domestic Debt; 3. Probability of Crisis and Effect on Prices, Private Credit and Output; Appendix; References"]
[null,null,null,"Sommario/riassunto","Large fiscal financing needs, both in advanced and emerging market economies, have often been met by borrowing heavily from domestic banks. As public debt approached sustainability limits in a number of countries, however, high bank exposure to sovereign risk created a fragile inter-dependence between fiscal and bank solvency. This paper presents a simple model of twin (sovereign and banking) crisis that stresses how this interdependence creates conditions conducive to a self-fulfilling crisis."]