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The aftermath of sovereign debt crises | VOX, CEPR Policy Portal


Rui Esteves, Seán Kenny, Jason Lennard 20 July 2021
There is little consensus on the macroeconomic impacts of sovereign debt crises, despite the regularity of such events. This column quantifies the aggregate costs of defaults using a narrative approach on a large panel of 50 sovereigns between 1870 and 2010. It estimates significant and persistent negative effects of debt crises starting at 1.6% of GDP and peaking at 3.3%, before reverting to trend five years later. In addition, underlying causes matter. Defaults driven by aggregate demand shocks result in short-term contractions, whereas aggregate supply shocks lead to larger, more persistent losses. 
Nicola Gennaioli, Alberto Martin, Stefano Rossi ....

United States , United Kingdom , Thomas Griesa , Journal Of The European Economic Association , Princeton University , Empirical Research On Sovereign Debt , Journal Of International Money , Journal Of International Economics , Princeton University Press , Journal Of Development Economics , Financial Times , Canada Technical Report , Sovereign Defaults Hurt , Open Economies Review , Po Gourinchas , Ct Hsieh , Comprehensive Debt Standstill , Monetary Policy Matters , New United Kingdom Narrative , Fiscal Policy , Economic Growth , New Evidence , Great Depression , Interest Rates , Political Uncertainty , International Economics ,

Gender pay gap means fewer female candidates on the ballot


Credit: Paolo Tonato
A new study by Thomas Le Barbanchon and Julien Sauvagnat, two Associate Professors at Bocconi University, published in the
Journal of the European Economic Association, finds that electoral districts with a larger gender pay gaps show favoritism toward male political candidates in Parliamentary elections, with fewer female candidates on the ballot.
Professors Le Barbanchon and Sauvagnat gathered data for seven parliamentary elections in France between 1988 and 2017. They studied candidates from the Left and Right political coalitions, which account for 80% of elected members of Parliament. The researchers consulted administrative and web data on candidates and electoral outcomes, survey data on voters attitude towards gender, as well as census data on earnings, and voters demographics across electoral districts. ....

Thomas Le Barbanchon , Julien Sauvagnat , Le Barbanchon , Journal Of The European Economic Association , Professors At Bocconi University , Associate Professors , Bocconi University , European Economic Association , Parity Law , இதழ் ஆஃப் தி ஐரோப்பிய பொருளாதார சங்கம் , இணை ப்ரொஃபெஸ்ஸர்ஸ் , போக்கோணி பல்கலைக்கழகம் , ஐரோப்பிய பொருளாதார சங்கம் , சமநிலை சட்டம் ,