Student Bulletin Board
2011-11-16
GraSPP special lecture "Sovereign Risk and Macro Economy" on Nov 22
GraSPP special lecture "Sovereign Risk and Macro Economy" by Dr. Hiroko Oura (International Monetary Fund)
Date and Time: Tuesday, November 22, 18:40-20:10 （11月22日、18：40－20：20）
Venue: Economics Classroom 8 （経済学研究科、第8教室、赤門総合棟地下）
※ No registration needed.
Abstract:
In the past few years, sovereign risk has come to the fore of the IMF's work both in the context of major lending operations to the countries such as Greece, Ireland, and Portugal and in the context of macroeconomic monitoring work.
Markets are now pricing in sovereign risks more severely not only for peripheral European countries but also for all advanced economies, including G7.
Unlike the series of debt, banking, sovereign crises in emerging markets in the past, sovereign distress in advanced economies could potentially have extraordinary spillover effects to the other sectors in the economy and to the rest of the world, because of the size of the economies and their complex ties to the other sectors/countries.
In particular, banking and financial sectors are directly hit severely when markets start pricing in sovereign risks even without an actual default by a government.
This lecture introduces some recent discussion on sovereign risks and it's spillover effects to the financial sector as well as key analytical framework for it.
- Poster (PDF, 1.1MB)