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| Pàgina inicial > Articles > Articles publicats > Is it too late to bail out the troubled countries in the Eurozone? |
(University of Minnesota. Department of Economics)| Data: | 2014 |
| Resum: | In January 1995, US President Bill Clinton organized a bailout for Mexico that imposed penalty interest rates and induced the Mexican government to reduce its debt, ending the debt crisis. Can the Troika (European Commission, European Central Bank, and International Monetary Fund) organize similar bailouts for the troubled countries in the eurozone? Our analysis suggests that debt levels are so high that bailouts with penalty interest rates could induce the eurozone governments to default rather than reduce their debt. A resumption of economic growth is one of the few ways that the eurozone crises can end. |
| Ajuts: | Ministerio de Economía y Competitividad ECO2012-32392 |
| Nota: | Altres ajuts: NSF/SES-09-62865 |
| Drets: | Tots els drets reservats.  |
| Llengua: | Anglès |
| Document: | Article ; recerca ; Versió publicada |
| Matèria: | International monetary arrangements and institutions ; National debt ; Debt management ; Sovereign debt ; Measurement of economic growth ; Aggregate productivity ; Cross-Country Output Convergence |
| Publicat a: | The American economic review, Vol. 104 Núm. 5 (May 2014) , p. 88-93, ISSN 0002-8282 |
