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Fuzzy Similarity And Counterfactuals In The Assessment Of Default Risk: The Eurozone Crisis And The Argentinean Solution

Author

Listed:
  • Pazzi, Jorge

    (Economics Department, Universidad Nacional del Sur, 12 de Octubre y San Juan, (8000) Bahia Blanca, Argentina)

  • Tohmé, Fernando

    (Economics Department, Universidad Nacional del Sur, 12 de Octubre y San Juan, (8000) Bahia Blanca, Argentina)

Abstract

We present an approach, based on the notion of fuzzy similarity, to the comparison of economies under default risk. We run a counterfactual analysis of the perspectives of the most troubled countries in the Eurozone compared with Argentina in 2001. This allows us to assess the possibility that these economies will end up following the path of Argentina.

Suggested Citation

  • Pazzi, Jorge & Tohmé, Fernando, 2015. "Fuzzy Similarity And Counterfactuals In The Assessment Of Default Risk: The Eurozone Crisis And The Argentinean Solution," Fuzzy Economic Review, International Association for Fuzzy-set Management and Economy (SIGEF), vol. 0(1), pages 39-50, May.
    • Handle: RePEc:fzy:fuzeco:v:xx:y:2015:i:1:p:39-50
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    More about this item

    Keywords

    default risk; counterfactual analysis; fuzzy similarity; euro-crisis;
    All these keywords.

    JEL classification:

    • C65 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Miscellaneous Mathematical Tools
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G01 - Financial Economics - - General - - - Financial Crises

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