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Why Official Bailouts Tend Not To Work: An Example Motivated by Greece 2010

Author

Listed:
  • Chamley Christophe P

    (Boston University)

  • Pinto Brian

    (World Bank)

Abstract

Christophe Chamley of Boston University and Brian Pinto of the World Bank use recent events in Greece to illustrate that official bailouts tend not to work when countries have fundamental fiscal (insolvency) problems and construct a two-period numerical example to explain why this should not come as a surprise.

Suggested Citation

  • Chamley Christophe P & Pinto Brian, 2011. "Why Official Bailouts Tend Not To Work: An Example Motivated by Greece 2010," The Economists' Voice, De Gruyter, vol. 8(1), pages 1-5, February.
  • Handle: RePEc:bpj:evoice:v:8:y:2011:i:1:n:3
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    Cited by:

    1. Gonzalo Fernandez-de-Cordoba & Pau Pujolas & Jose Torres, 2017. "Fiscal Discipline and Defaults," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 24, pages 1-13, March.
    2. repec:spr:joecth:v:64:y:2017:i:4:d:10.1007_s00199-017-1085-5 is not listed on IDEAS
    3. Juan Carlos Conesa & Timothy J. Kehoe, 2017. "Gambling for redemption and self-fulfilling debt crises," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(4), pages 707-740, December.
    4. Sven Steinkamp & Frank Westermann, 2017. "Multilateral Loans and Interest Rates: Further Evidence on the Seniority Conundrum," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 22(2), pages 169-178, April.
    5. Sven Steinkamp & Frank Westermann, 2014. "The role of creditor seniority in Europe's sovereign debt crisis," Economic Policy, CEPR;CES;MSH, vol. 29(79), pages 495-552, July.

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