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A primer on the empirics of original sin

Author

Listed:
  • Stéphane Colliac

    (Lare-efi, Université Montesquieu Bordeaux IV)

  • Nader Akmar

    (Lare-efi, Université Montesquieu Bordeaux IV)

Abstract

The empirical literature on "original sin" could be misleading. Eichengreen and Hausmann (1999) defined "original sin" as a liability dollarization bias and as a short term maturity bias. This is a source of concern for all emerging borrowers. However, the existing estimators of "original sin" only account for the dollarization bias and ignore the maturity bias. In this paper, we provide a new estimator, accounting for the two accepts of "original sin".

Suggested Citation

  • Stéphane Colliac & Nader Akmar, 2005. "A primer on the empirics of original sin," Economics Bulletin, AccessEcon, vol. 6(23), pages 1-12.
    • Handle: RePEc:ebl:ecbull:eb-05f30013
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    More about this item

    JEL classification:

    • F3 - International Economics - - International Finance
    • E0 - Macroeconomics and Monetary Economics - - General

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