Modeling Financial Crises and Sovereign Risks

摘要: The complex interactions, spillovers, and feedbacks of the global crisis that began in 2007 remind us how important it is to improve our analysis modeling financial crises sovereign risk. This review provides a broad framework examine vulnerabilities can build up suddenly erupt crisis, with potentially disastrous feedback effects for debt economic growth. Traditional macroeconomic analyses overlook importance risk, which makes them ill-suited interconnectedness, risk transmission mechanisms, contagion. After presenting an overview key features 2007-2009 this discusses new directions research on including need integrating into policy models enhancing early warning system contagion through more comprehensive view economy-wide risks. Also, tools mitigate control macro b...