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|c 5.00 USD
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|z 9781513516431
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a McGregor, Thomas.
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|a Pricing Sovereign Debt in Resource-Rich Economies /
|c Thomas McGregor.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2019.
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| 300 |
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|a 1 online resource (30 pages)
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|a IMF Working Papers
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| 500 |
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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| 500 |
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a How do oil price movements affect sovereign spreads in an oil-dependent economy? I develop a stochastic general equilibrium model of an economy exposed to co-moving oil price and output processes, with endogenous sovereign default risk. The model explains a large proportion of business cycle fluctuations in interest-rate spreads in oil-exporting emerging market economies, particularly the countercyclicallity of interest rate spreads and oil prices. Higher risk-aversion, more impatient governments, larger oil shares and a stronger correlation between domestic output and oil price shocks all lead to stronger co-movements between risk premiums and the oil price.
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| 538 |
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2019/240
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2019/240/001.2019.issue-240-en.xml
|z IMF e-Library
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