Sub-National Credit Risk and Sovereign Bailouts : Who Pays the Premium? /

Studies have shown that markets may underprice sub-national governments' risk on the implicit assumption that these entities would be bailed out by their central government in case of financial difficulties. However, the question of whether sovereigns pay a premium on their own borrowing as a r...

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Dettagli Bibliografici
Autore principale: Jenkner, Eva
Altri autori: Lu, Zhongjin
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2014.
Serie:IMF Working Papers; Working Paper ; No. 2014/020
Accesso online:Full text available on IMF