Russia's 1998 crisis and subsequent recovery offer valuable lessons for countries simultaneou... more Russia's 1998 crisis and subsequent recovery offer valuable lessons for countries simultaneously facing unsustainable public debt dynamics and low international liquidity---a list that in recent years has included Argentina, Brazil, and Turkey. Lessons include implications for the appropriate design of rescue packages, moral hazard, and crucial factors driving post-crisis recovery. This study presents an easily replicable framework that may make
... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through approp... more ... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through appropriate solution from the standard debt difference equation and this ... No, for the fol-lowing reasons: - Low interest rates stem from weakness in the global economy and capital inflows, not ...
This paper takes a hard look at the experience with official intervention in sovereign debt crise... more This paper takes a hard look at the experience with official intervention in sovereign debt crises, focusing on debt crises of the 1980s, Russia in 1998, Argentina in 2001, and Greece in 2010. Based on the track record, the authors argue that in situations where countries face a solvency problem, official intervention is more likely to succeed if official money
Russia's 1998 crisis and subsequent recovery offer valuable lessons for countries simultaneou... more Russia's 1998 crisis and subsequent recovery offer valuable lessons for countries simultaneously facing unsustainable public debt dynamics and low international liquidity---a list that in recent years has included Argentina, Brazil, and Turkey. Lessons include implications for the appropriate design of rescue packages, moral hazard, and crucial factors driving post-crisis recovery. This study presents an easily replicable framework that may make
... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through approp... more ... BRIAN PINTO, FARAH ZAHIR ... The implied value for (rg) itself can be obtained through appropriate solution from the standard debt difference equation and this ... No, for the fol-lowing reasons: - Low interest rates stem from weakness in the global economy and capital inflows, not ...
This paper takes a hard look at the experience with official intervention in sovereign debt crise... more This paper takes a hard look at the experience with official intervention in sovereign debt crises, focusing on debt crises of the 1980s, Russia in 1998, Argentina in 2001, and Greece in 2010. Based on the track record, the authors argue that in situations where countries face a solvency problem, official intervention is more likely to succeed if official money
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