Country Insurance Using Financial Instruments:
Gespeichert in:
Internformat
MARC
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| 520 | 3 | |a The availability of financial instruments related to indices that track global financial conditions and risk appetite can potentially offer countries alternative options to insure against external shocks. This paper shows that while these instruments can explain much of the in-sample variation in borrowing spreads, this fails to materialize in hedging strategies that work well out-of-sample during tranquil times. However, positions on instruments such as those tracking the US High Yield Spread, the VIX, and especially other emerging market CDS spreads can substantially offset adverse movements in own spreads during times of systemic crises. Moreover, high risk countries seem to gain more, as their underlying weaknesses makes them more vulnerable to external shocks. Overall, the limited value in tranquil times, coupled with political economy arguments and innovation costs could justify the limited interest for this type of hedging in practice | |
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| id | DE-604.BV048345779 |
| illustrated | Not Illustrated |
| indexdate | 2024-12-20T19:42:10Z |
| institution | BVB |
| isbn | 1462315321 9781462315321 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033725047 |
| oclc_num | 1337127065 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
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| physical | 1 Online-Ressource (35 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spellingShingle | Ricci, Luca Antonio Country Insurance Using Financial Instruments |
| title | Country Insurance Using Financial Instruments |
| title_auth | Country Insurance Using Financial Instruments |
| title_exact_search | Country Insurance Using Financial Instruments |
| title_full | Country Insurance Using Financial Instruments Ricci, Luca Antonio |
| title_fullStr | Country Insurance Using Financial Instruments Ricci, Luca Antonio |
| title_full_unstemmed | Country Insurance Using Financial Instruments Ricci, Luca Antonio |
| title_short | Country Insurance Using Financial Instruments |
| title_sort | country insurance using financial instruments |
| url | http://elibrary.imf.org/view/IMF001/12015-9781462315321/12015-9781462315321/12015-9781462315321.xml |
| work_keys_str_mv | AT riccilucaantonio countryinsuranceusingfinancialinstruments AT chamonmarcos countryinsuranceusingfinancialinstruments AT zhangyuanyansophia countryinsuranceusingfinancialinstruments |