Replication data for: Is It Too Late to Bail Out the Troubled Countries in the Eurozone?

Principal Investigator(s): View help for Principal Investigator(s) Juan Carlos Conesa; Timothy J. Kehoe

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Project Citation:

Conesa, Juan Carlos, and Kehoe, Timothy J. Replication data for: Is It Too Late to Bail Out the Troubled Countries in the Eurozone? Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112822V1

Project Description

Summary: In January 1995, US President Bill Clinton organized a bailout for Mexico that imposed penalty interest rates and induced the Mexican government to reduce its debt, ending the debt crisis. Can the Troika (European Commission, European Central Bank, and International Monetary Fund) organize similar bailouts for the troubled countries in the eurozone? Our analysis suggests that debt levels are so high that bailouts with penalty interest rates could induce the eurozone governments to default rather than reduce their debt. A resumption of economic growth is one of the few ways that the eurozone crises can end.

Scope of Project

JEL Classification:
      F33 International Monetary Arrangements and Institutions
      H63 National Debt; Debt Management; Sovereign Debt
      O47 Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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V1 [2019-10-11]

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