Paths to eurobonds /:
This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal disciplin...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Körperschaft: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/172. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing. Many questions remain on whether financial instruments can ever accomplish such goals without bold institutional and political decisions, and, whether, in the absence of such decisions, they can create new distortions. The proposals discussed are also not necessarily competing substitutes; rather, they can be complements to be sequenced along alternative paths that possibly culminate in a fully-fledged Eurobond. The specific path chosen by policymakers should allow for learning and secure the necessary evolution of institutional infrastructures and political safeguards. |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Jul. 11, 2012). "Research Department." "July 2012." |
| Beschreibung: | 1 online resource (39 pages) |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1475535295 9781475535297 1475567448 9781475567441 1475587775 9781475587777 |
Internformat
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| 100 | 1 | |a Claessens, Stijn, |e author. |0 http://id.loc.gov/authorities/names/n88012697 | |
| 245 | 1 | 0 | |a Paths to eurobonds / |c prepared by Stijn Claessens, Ashoka Mody, and Shahin Vallée. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
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| 500 | |a Title from PDF title page (IMF Web site, viewed Jul. 11, 2012). | ||
| 520 | |a This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing. Many questions remain on whether financial instruments can ever accomplish such goals without bold institutional and political decisions, and, whether, in the absence of such decisions, they can create new distortions. The proposals discussed are also not necessarily competing substitutes; rather, they can be complements to be sequenced along alternative paths that possibly culminate in a fully-fledged Eurobond. The specific path chosen by policymakers should allow for learning and secure the necessary evolution of institutional infrastructures and political safeguards. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Research Department." | ||
| 500 | |a "July 2012." | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Objectives and Motivations; III. Summary of the Proposals Reviewed; IV. Assessment of the Proposals; A. Countries' Incentives; B. Creditors; C. Coverage and Phase-in; D. Legal and Institutional Challenges; V. Possible Paths; VI. Conclusions; Table; 1. Objectives of Common Debt Issuance; 2. Country Incentives; 3. Creditors; 4. Coverage, Phase-in and Transition; Figure; 1. From Eurobills and Project Bonds to Eurobonds; 2. From Redemption Fund to Eurobonds; Annex; 1. Details on Proposals; 2. Monetary Policy, Financial Markets Functioning; Annex Table. | |
| 546 | |a English. | ||
| 650 | 0 | |a Euro-bond market. |0 http://id.loc.gov/authorities/subjects/sh85045626 | |
| 650 | 6 | |a Marché des euro-obligations. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Euro-bond market |2 fast | |
| 700 | 1 | |a Mody, Ashoka, |e author. |0 http://id.loc.gov/authorities/names/n89642609 | |
| 700 | 1 | |a Vallée, Shahin, |e author. |0 http://id.loc.gov/authorities/names/no2011147480 | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 758 | |i has work: |a Paths to eurobonds (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGtVv9cdFwDJQ7h8jYyXtX |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
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| author | Claessens, Stijn Mody, Ashoka Vallée, Shahin |
| author_GND | http://id.loc.gov/authorities/names/n88012697 http://id.loc.gov/authorities/names/n89642609 http://id.loc.gov/authorities/names/no2011147480 |
| author_corporate | International Monetary Fund. Research Department |
| author_corporate_role | |
| author_facet | Claessens, Stijn Mody, Ashoka Vallée, Shahin International Monetary Fund. Research Department |
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| callnumber-first | H - Social Science |
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| callnumber-subject | HG - Finance |
| collection | ZDB-4-EBU |
| contents | Cover; Contents; I. Introduction; II. Objectives and Motivations; III. Summary of the Proposals Reviewed; IV. Assessment of the Proposals; A. Countries' Incentives; B. Creditors; C. Coverage and Phase-in; D. Legal and Institutional Challenges; V. Possible Paths; VI. Conclusions; Table; 1. Objectives of Common Debt Issuance; 2. Country Incentives; 3. Creditors; 4. Coverage, Phase-in and Transition; Figure; 1. From Eurobills and Project Bonds to Eurobonds; 2. From Redemption Fund to Eurobonds; Annex; 1. Details on Proposals; 2. Monetary Policy, Financial Markets Functioning; Annex Table. |
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| illustrated | Not Illustrated |
| indexdate | 2024-11-26T14:49:06Z |
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| isbn | 1475535295 9781475535297 1475567448 9781475567441 1475587775 9781475587777 |
| language | English |
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| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Claessens, Stijn, author. http://id.loc.gov/authorities/names/n88012697 Paths to eurobonds / prepared by Stijn Claessens, Ashoka Mody, and Shahin Vallée. [Washington, D.C.] : International Monetary Fund, ©2012. 1 online resource (39 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier polychrome rdacc text file rdaft IMF working paper ; WP/12/172 Title from PDF title page (IMF Web site, viewed Jul. 11, 2012). This paper discusses proposals for common euro area sovereign securities. Such instruments can potentially serve two functions: in the short-term, stabilize financial markets and banks and, in the medium-term, help improve the euro area economic governance framework through enhanced fiscal discipline and risk-sharing. Many questions remain on whether financial instruments can ever accomplish such goals without bold institutional and political decisions, and, whether, in the absence of such decisions, they can create new distortions. The proposals discussed are also not necessarily competing substitutes; rather, they can be complements to be sequenced along alternative paths that possibly culminate in a fully-fledged Eurobond. The specific path chosen by policymakers should allow for learning and secure the necessary evolution of institutional infrastructures and political safeguards. Includes bibliographical references. "Research Department." "July 2012." Cover; Contents; I. Introduction; II. Objectives and Motivations; III. Summary of the Proposals Reviewed; IV. Assessment of the Proposals; A. Countries' Incentives; B. Creditors; C. Coverage and Phase-in; D. Legal and Institutional Challenges; V. Possible Paths; VI. Conclusions; Table; 1. Objectives of Common Debt Issuance; 2. Country Incentives; 3. Creditors; 4. Coverage, Phase-in and Transition; Figure; 1. From Eurobills and Project Bonds to Eurobonds; 2. From Redemption Fund to Eurobonds; Annex; 1. Details on Proposals; 2. Monetary Policy, Financial Markets Functioning; Annex Table. English. Euro-bond market. http://id.loc.gov/authorities/subjects/sh85045626 Marché des euro-obligations. BUSINESS & ECONOMICS Finance. bisacsh Euro-bond market fast Mody, Ashoka, author. http://id.loc.gov/authorities/names/n89642609 Vallée, Shahin, author. http://id.loc.gov/authorities/names/no2011147480 International Monetary Fund. Research Department. http://id.loc.gov/authorities/names/n77001219 has work: Paths to eurobonds (Text) https://id.oclc.org/worldcat/entity/E39PCGtVv9cdFwDJQ7h8jYyXtX https://id.oclc.org/worldcat/ontology/hasWork 1475535295 1475505205 IMF working paper ; WP/12/172. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568179 Volltext |
| spellingShingle | Claessens, Stijn Mody, Ashoka Vallée, Shahin Paths to eurobonds / IMF working paper ; Cover; Contents; I. Introduction; II. Objectives and Motivations; III. Summary of the Proposals Reviewed; IV. Assessment of the Proposals; A. Countries' Incentives; B. Creditors; C. Coverage and Phase-in; D. Legal and Institutional Challenges; V. Possible Paths; VI. Conclusions; Table; 1. Objectives of Common Debt Issuance; 2. Country Incentives; 3. Creditors; 4. Coverage, Phase-in and Transition; Figure; 1. From Eurobills and Project Bonds to Eurobonds; 2. From Redemption Fund to Eurobonds; Annex; 1. Details on Proposals; 2. Monetary Policy, Financial Markets Functioning; Annex Table. Euro-bond market. http://id.loc.gov/authorities/subjects/sh85045626 Marché des euro-obligations. BUSINESS & ECONOMICS Finance. bisacsh Euro-bond market fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85045626 |
| title | Paths to eurobonds / |
| title_auth | Paths to eurobonds / |
| title_exact_search | Paths to eurobonds / |
| title_full | Paths to eurobonds / prepared by Stijn Claessens, Ashoka Mody, and Shahin Vallée. |
| title_fullStr | Paths to eurobonds / prepared by Stijn Claessens, Ashoka Mody, and Shahin Vallée. |
| title_full_unstemmed | Paths to eurobonds / prepared by Stijn Claessens, Ashoka Mody, and Shahin Vallée. |
| title_short | Paths to eurobonds / |
| title_sort | paths to eurobonds |
| topic | Euro-bond market. http://id.loc.gov/authorities/subjects/sh85045626 Marché des euro-obligations. BUSINESS & ECONOMICS Finance. bisacsh Euro-bond market fast |
| topic_facet | Euro-bond market. Marché des euro-obligations. BUSINESS & ECONOMICS Finance. Euro-bond market |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568179 |
| work_keys_str_mv | AT claessensstijn pathstoeurobonds AT modyashoka pathstoeurobonds AT valleeshahin pathstoeurobonds AT internationalmonetaryfundresearchdepartment pathstoeurobonds |