Department of Economics

Economics

Workshop on Sovereign and Public Debt and Default

 Workshop on Sovereign and Public Debt and Default 

Preliminary Programme

4th December 12pm – 5th December 5pm

12pm Registration and Lunch at Radcliffe House

1pm-2.30pm   Invited Session:  Negotiation after Default 
 

"Holdouts in Sovereign Debt Restructuring: A Theory of Negotiation in a Weak Contractual Environment"
Mark Wright (UCLA) 
  "The Cost of Aggressive Sovereign Debt Policies"
Christoph Trebesch (Free Univ of Berlin)
   
2.30pm—4pm Invited Session: Sovereign Debt Defaults in Equilibrium  
  "The Contractual Approach to Sovereign Debt Restructuring"
Serge Lanau (Bank of England and Universitat Pompeu Fabra)
   
  "Equilibrium Default Cycles"
Balazs Szentes ( University College, London)
 Tea Break  
 4.15pm—5.45pm  Political Economy of Debt Default 
  "Leader Reputation and Default in Sovereign Debt"
Amrita Dhillon (University of Warwick)  
   
  "Personality and Policy: The Impact of Political Leaders’ Education and Profession on Public Finance"
Frank Somogyi ( ETH Zurich)
   
  "The Political Economy of Sovereign Debt with an application to Argentina"
Giancarlo Ianulardo (Universities of Bath and Warwick)
   
5.45pm-6.45pm Governance and Debt

The Politics of Governing Sovereign Debt Crisis Resolution
Jasper Blom (University of Amsterdam)
   
  “What Determines Public Debt Intolerance? The role of political and monetary institutions”,
Pietro Tommasino (Bank of Italy)
   
7pm  Drinks and Dinner 
   
5th December -0-0-0-0-0-0-0-0-0-0-0-
   
9.00am—10.00 am Duration of Sovereign Bonds and Sovereign Default 
 

"Maturity, Indebetedness and Default Risk"
Satyajit Chatterjee (Federal Reserve Bank of Philadelphia)  

 

“Long Duration Bonds and Sovereign Defaults”
Juan Carlos Hatchondo (Federal Reserve Bank of Richmond)

Coffee break  
10.30-12.00pm  Invited Session: Public Debt: History and Politics. Chair Niko Wolf
 

"Does Political Consensus Affect Financial Credibility? Evidence from domestic debt placement in fascist Italy" Cristiano Ristuccia (University of Cambridge)

  "Currency vs. Banking in the German Debt Crisis of 1931"
Samad Sarferaz (University of  Zurich)
   
 12.00-12.30pm Optimal Sovereign Debt Contracts 
  "Optimal External Debt and Default in an Economy with a Natural Resource Endowment"
Nathan Foley-Fisher (London School of Economics)
Lunch  
1.30-1.45 Brief talks: Abhinay Muthoo (Chair, Warwick Economics Department) 
                 John Driffill (Programme Director, World Economy and Finance Research Programme)
1.45pm-3.15pm Invited Session: The Credit Crunch and  Financial Regulation 
  "The Collapse of Iceland’s banks: the predictable end of a non-viable business model"
Anne Sibert (Birkbeck College, University of London)
   
  "Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?"
Marcus Miller (University of Warwick)
Tea Break  
 3.30-4.30pm Institutions and Legal Issues 
 

"Independence and Accountability of Monetary and Fiscal Policy Committees"
Alexander Mihailov (University of Reading) 
 

"The credit crunch and sovereign bonds"
Kern Alexander (University of Cambridge)

4.30pm-5.30pm The Role of IMF in Restructuring   
 

"Agency and Communication Problems in IMF Conditional Lending" 
Silvia Marchesi (University of Milan Bicocca)
 

"The IMF as a Lender of last resort: Implications for Debt Structure Pricing and Crises"
Aitor Erce (Bank of Spain)  

 
 

 
 

 
   
   
  

 

 

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Venue: Radcliffe House  Map(PDF Document)

Programme (PDF Document)

Organising Committee:
Amrita Dhillon  Warwick
Marcus Miller:  Warwick
Nico Wolf:  Warwick

Special thanks to:
John Driffill: Birkbeck College
Rui Esteves: University of Oxford

World Economy and Finance Programme

 

 

 
Page contact: Fiona Brown Last revised: Fri 5 Dec 2008
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