EIB Working Paper 2026/04 - Sovereign debt dynamics at the brink of default and the special role of supranational lenders

This paper studies why it is often hard to judge whether a country’s public debt is sustainable. We show that defaults aren’t driven solely by the underlying economy, but also by expectations among lenders—especially in times of crisis. Using a stylised economic model, we explain when governments ac...

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Bibliografiske detaljer

Format:	Online
Sprog:	engelsk
Udgivet:	European Investment Bank 2026
Fag:	Loans Payment Public debt Financing Financial risk Financial institution Financial aid Economic model Budgetary control thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCL International economics thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFM Investment and securities thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFD Public finance and taxation
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