Aitor Erce

UPNA

Pamplona

Spain

SCHOLARLY PAPERS

31

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3,120

SSRN CITATIONS
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SSRN RANKINGS

Top 1,015

in Total Papers Citations

338

CROSSREF CITATIONS

826

Scholarly Papers (31)

1.

Costs of Sovereign Defaults: Restructuring Strategies and the Credit-Investment Channel

Number of pages: 58 Posted: 14 Apr 2020
International Monetary Fund (IMF) Research Department, International Monetary Fund (IMF) - Research Department, UPNA and Keio University
Downloads 509 (67,969)
Citation 1

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Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; GDP Growth; Investment; Banking Crisis; Local Projection

2.

Recent Episodes of Sovereign Debt Restructurings: A Case-Study Approach

Banco de Espana Occasional Paper No. 0804
Number of pages: 82 Posted: 07 Aug 2008
Banco de España, UPNA and Banco de España
Downloads 401 (90,409)
Citation 82

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IMF, sovereign debt, restructurings, default, solvency

3.

The Role of the IMF in Recent Sovereign Debt Restructurings: Implications for the Policy of Lending into Arrears

Banco de Espana Occasional Paper No. 0805
Number of pages: 37 Posted: 07 Aug 2008
Banco de España, UPNA and Banco de España
Downloads 234 (160,587)
Citation 57

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IMF, sovereign debt, restructurings, default, solvency

4.
Downloads 180 (204,555)
Citation 156

Gross Capital Flows: Dynamics and Crises

Banco de Espana Working Paper No. 1039
Number of pages: 52 Posted: 29 Apr 2011
CREI, World Bank, UPNA and World Bank - Development Research Group (DECRG)
Downloads 96 (332,505)
Citation 7

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gross capital flows, net capital flows, domestic investors, foreign investors, crises

Gross Capital Flows: Dynamics and Crises

World Bank Policy Research Working Paper No. 5768
Number of pages: 50 Posted: 20 Apr 2016
CREI, World Bank, UPNA and World Bank - Development Research Group (DECRG)
Downloads 80 (372,896)
Citation 1

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Emerging Markets, Macroeconomic Management, Economic Theory & Research, Debt Markets, Capital Flows

Gross Capital Flows: Dynamics and Crises

CEPR Discussion Paper No. DP8591
Number of pages: 51 Posted: 12 Oct 2011
CREI, World Bank, UPNA and World Bank - Development Research Group (DECRG)
Downloads 4 (779,155)
Citation 48
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crises, domestic investors, foreign investors, gross capital flows, net capital flows

5.

Measuring and Explaining the Volatility of Capital Flows towards Emerging Countries

Banco de Espana Working Paper No. 0817
Number of pages: 33 Posted: 01 Sep 2008
Banco de España, Banco de España and UPNA
Downloads 175 (209,641)
Citation 44

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capital flows, volatility, panel data, emerging markets

Risk Management for Sustainable Sovereign Debt Financing

Operations Research, published on line 18 Jan. 2021.
Number of pages: 44 Posted: 17 Sep 2018 Last Revised: 30 Mar 2021
University of Cyprus, University of Palermo - d/SEAS, European Stability Mechanism, European Stability Mechanism, European Stability Mechanism and UPNA
Downloads 128 (271,345)
Citation 3

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sovereign debt, sustainability, debt financing, optimization, stochastic programming, scenario analysis, conditional value-at-risk, risk measures

Risk Management for Sovereign Debt Financing with Sustainability Conditions

Globalization and Monetary Policy Institute Working Paper No. 367
Number of pages: 49 Posted: 31 Oct 2019 Last Revised: 29 Apr 2020
University of Cyprus, University of Palermo - d/SEAS, European Stability Mechanism, European Stability Mechanism, Banco de España and UPNA
Downloads 44 (502,904)

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sovereign debt, sustainability, debt financing, optimization, stochastic programming, scenario analysis, conditional Value-at-Risk, risk measures

7.

Banking Crises and Sovereign Defaults in Emerging Markets: Exploring the Links

Banco de Espana Working Paper No. 1414
Number of pages: 46 Posted: 16 Jul 2014
Irina Balteanu and Aitor Erce
Banco de España and UPNA
Downloads 165 (220,417)
Citation 48

Abstract:

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banking crises, sovereign defaults, feedback loops, balance sheets

8.
Downloads 141 (251,027)
Citation 4

Bank and Sovereign Risk Feedback Loops

European Stability Mechanism Working Paper No. 1
Number of pages: 32 Posted: 23 May 2015
Aitor Erce
UPNA
Downloads 99 (325,915)
Citation 2

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Bank and Sovereign Risk Feedback Loops

Globalization and Monetary Policy Institute Working Paper No. 227
Number of pages: 26 Posted: 17 Aug 2015
Aitor Erce
UPNA
Downloads 42 (512,372)
Citation 2

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9.
Downloads 116 (290,462)
Citation 12

Fiscal Multipliers and Foreign Holdings of Public Debt

European Stability Mechanism Working Paper No. 30
Number of pages: 76 Posted: 30 Mar 2018
CREI, European Stability Mechanism, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and UPNA
Downloads 85 (359,353)
Citation 13

Abstract:

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sovereign debt, fiscal multiplier, foreign holdings of public debt

Fiscal Multipliers and Foreign Holdings of Public Debt

ECB Working Paper No. 2255 (2019); ISBN 978-92-899-3517-3
Number of pages: 75 Posted: 27 Mar 2019
CREI, European Stability Mechanism, UPNA and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
Downloads 31 (571,369)

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sovereign debt, fiscal multiplier, foreign holdings of public debt

Fiscal Multipliers and Foreign Holdings of Public Debt

CEPR Discussion Paper No. DP12960
Number of pages: 77 Posted: 05 Jun 2018 Last Revised: 22 Oct 2018
CREI, European Stability Mechanism, UPNA and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
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Fiscal Multiplier, Foreign Holdings of Public Debt, Sovereign debt

10.

International Reserves and Gross Capital Flows - Dynamics During Financial Stress

Banco de Espana Working Paper No. 1211
Number of pages: 36 Posted: 22 Feb 2012
Bank for International Settlements (BIS), UPNA and Bank for International Settlements (BIS)
Downloads 115 (292,225)
Citation 57

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gross capital flows, international reserves, systemic crises, capital retrenchment

11.

A Structural Model of Sovereign Debt Issuance: Assessing the Role of Financial Factors

Banco de España Working Paper No. 0809
Number of pages: 39 Posted: 16 Jun 2008
Aitor Erce
UPNA
Downloads 111 (299,531)
Citation 47

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sovereign debt, financial markets, global liquidity, structural analysis

The Benefits of Reducing Hold-Out Risk: Evidence from the Euro CAC Experiment, 2013-2018

European Stability Mechanism Working Paper No. 33
Number of pages: 33 Posted: 05 Dec 2018
European Stability Mechanism, UPNA and European Stability Mechanism
Downloads 71 (399,552)
Citation 5

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Collective action clause, hold-outs, sovereign risk, bond yields

The Benefits of Reducing Hold-Out Risk: Evidence from the Euro CAC Experiment, 2013-2018

Forthcoming at Capital Markets Law Journal
Number of pages: 30 Posted: 05 Dec 2018
UPNA, European Stability Mechanism and European Stability Mechanism
Downloads 20 (647,960)

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Collective action clause, hold-outs, sovereign risk, bond yields

13.

Selective Sovereign Defaults

FRB International Finance Discussion Paper No. 1239
Number of pages: 48 Posted: 27 Nov 2018 Last Revised: 29 Apr 2020
Aitor Erce and Enrico Mallucci
UPNA and Board of Governors of the Federal Reserve System
Downloads 70 (397,927)

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Sovereign Default, Selective Defaults, Domestic Debt, External Debt, Credit, Imports

14.

Linking Bank Crises and Sovereign Defaults: Evidence from Emerging Markets

European Stability Mechanism Working Paper No. 22
Number of pages: 44 Posted: 24 May 2017
Irina Balteanu and Aitor Erce
Banco de España and UPNA
Downloads 64 (417,076)
Citation 10

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Banking Crises, Sovereign Defaults, Feedback Loops, Balance Sheets

15.

From Debt Collection to Relief Provision: 60 Years of Official Debt Restructurings Through the Paris Club

European Stability Mechanism Working Paper No. 20
Number of pages: 50 Posted: 24 May 2017
European Stability Mechanism, Banco de España and UPNA
Downloads 56 (445,236)
Citation 2

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Official debt, Sovereign debt restructuring, Paris Club

16.

Debt Stocks Meet Gross Financing Needs: A Flow Perspective into Sustainability

European Stability Mechanism Working Paper No. 24
Number of pages: 29 Posted: 21 Jun 2017
European Stability Mechanism, UPNA, European Stability Mechanism and European Stability Mechanism
Downloads 53 (456,371)
Citation 4

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Sovereign sustainability, debt stocks, financing needs, maturity

17.

The Macroeconomic Effects of Official Debt Restructuring: Evidence from the Paris Club

European Stability Mechanism Working Paper No. 21
Number of pages: 28 Posted: 24 May 2017
European Stability Mechanism, Banco de España and UPNA
Downloads 53 (456,371)
Citation 4

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Official Creditors, Sovereign Debt Restructuring, Growth, Fiscal Stance, External Sector Adjustment, Local Projections

Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel

IMF Working Paper No. 19/69
Number of pages: 92 Posted: 25 Apr 2019
International Monetary Fund (IMF) Research Department, International Monetary Fund (IMF) - Research Department, UPNA and Keio University
Downloads 27 (597,096)

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Sovereign debt restructuring, Business cycles, Capital inflows, Domestic debt, Current account deficits, Sovereign Debt, Sovereign Defaults, Sovereign Debt Restructurings, GDP Growth, Investment, Banking Crisis, Local Projection, debt restructure, bank crisis, restructure, haircut, inflow

Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel

European Stability Mechanism Working Paper No. 37
Number of pages: 81 Posted: 15 Nov 2019
International Monetary Fund (IMF) Research Department, International Monetary Fund (IMF) - Research Department, UPNA and Keio University
Downloads 20 (647,960)
Citation 1

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sovereign debt; sovereign defaults; sovereign debt restructurings; GDP growth; investment; banking crisis; local projection

Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel

European Stability Mechanism Working Paper Series 37/2019; ISBN 978-92-95085-68-8
Number of pages: 81 Posted: 19 Sep 2019
International Monetary Fund (IMF) Research Department, International Monetary Fund (IMF) - Research Department, UPNA and Keio University
Downloads 4 (779,155)
Citation 3

Abstract:

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Sovereign Defaults; Sovereign Debt Restructurings; GDP Growth; Investment; Banking Crisis; Local Projection

19.
Downloads 48 (476,151)
Citation 1

Catalytic IMF? A Gross Flows Approach

Globalization and Monetary Policy Institute Working Paper No. 254
Number of pages: 38 Posted: 28 Jan 2016
Aitor Erce and Daniel Riera-Crichton
UPNA and Bates College
Downloads 29 (583,860)

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Catalytic IMF? A Gross Flows Approach

European Stability Mechanism Working Paper No. 9; ISBN: 978-92-95085-15-2
Number of pages: 47 Posted: 19 Mar 2018
Aitor Erce and Daniel Riera-Crichton
UPNA and Bates College
Downloads 19 (655,646)
Citation 3

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IMF, Catalysis, residence, capital flows

20.

Using Standstills to Manage Sovereign Debt Crises

Banco de España Research Paper No. WP-0636
Number of pages: 36 Posted: 12 Jan 2007
Aitor Erce
UPNA
Downloads 44 (493,275)

Abstract:

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Sovereign Debt, liquidity runs, standstills, effort

21.

Does the IMF's Official Support Affect Sovereign Bond Maturities?

Banco de Espana Working Paper No. 1231
Number of pages: 35 Posted: 19 Sep 2012
Aitor Erce
UPNA
Downloads 43 (497,677)

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sovereign debt, maturity, IMF, official support

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects

Banco de Espana Working Paper No. 1402
Number of pages: 69 Posted: 15 Feb 2014
CREI, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI), Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and UPNA
Downloads 27 (597,096)
Citation 5

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sovereign debt, discrimination, crowding out, rollover crises, economic growth

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects

NBER Working Paper No. w19676
Number of pages: 63 Posted: 28 Nov 2013 Last Revised: 07 Apr 2021
CREI, UPNA, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
Downloads 13 (703,326)
Citation 9

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Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects

CEPR Discussion Paper No. DP9761
Number of pages: 67 Posted: 25 Nov 2013
CREI, UPNA, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
Downloads 0
Citation 31
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crowding out, discrimination, economic growth, rollover crises, sovereign debt

23.

International Reserves and Gross Capital Flows Dynamics

Fondo Latinoamericano de Reservas Discussion Paper No. 3
Number of pages: 25 Posted: 02 Aug 2014
Bank for International Settlements (BIS), UPNA and Bank for International Settlements (BIS)
Downloads 39 (516,033)
Citation 3

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gross capital flows, international reserves, systemic crises, capital retrenchment

24.

International Reserves and Gross Capital Flow Dynamics

BIS Working Paper No. 512
Number of pages: 29 Posted: 02 Oct 2015
Bank for International Settlements (BIS), UPNA and Bank for International Settlements (BIS)
Downloads 38 (520,845)

Abstract:

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Gross capital flows, international reserves, systemic crises, capital retrenchment

25.

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out

IMF Working Paper No. 13/270
Number of pages: 64 Posted: 11 Feb 2014
CREI, UPNA, Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI) and Universitat Pompeu Fabra - Centre de Recerca en Economia Internacional (CREI)
Downloads 37 (525,651)

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Sovereign debt, Europe, Spillovers, Financial crisis, Bond issues, Investment, Economic models, rollover crises, secondary markets, economic growth, domestic creditors, domestic debt, debt crises, public debt, debt crisis, debt maturity, stock of debt, debt problems, private credit, sovereign defaults, central banks, government debt, debt dynamics, sovereign debt crises, short-term debt, sovereign debt crisis, debt holders, amount of debt, foreign debt, sovereign debts, external borrowing, public debts, debt renegotiation, debt data, private creditors, liquidity crises, debt accumulation, repurchases, sovereign bonds, bilateral agreements, low debts, debt stocks, debt restructuring, reserve

Quantifying Risks to Sovereign Market Access: Methods and Challenges

European Stability Mechanism Working Paper No. 42
Number of pages: 87 Posted: 16 Jan 2020
Diana Zigraiova, Aitor Erce and Xu Jiang
Charles University in Prague, UPNA and European Stability Mechanism
Downloads 22 (633,004)

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Euro area sovereign bond market; forecasting; sovereign debt crises, sovereign market access; variable selection

Quantifying Risks to Sovereign Market Access: Methods and Challenges

Globalization and Monetary Policy Institute Working Paper No. 377
Number of pages: 87 Posted: 29 Apr 2020
Diana Zigraiova, Aitor Erce and Xu Jiang
Charles University in Prague, UPNA and European Stability Mechanism
Downloads 5 (770,842)

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sovereign market access, Euro area sovereign bond market, variable selection, sovereign debt crises, forecasting

Quantifying Risks to Sovereign Market Access: Methods and Challenges

ESM Working Paper Series no. 42 (2020)
Number of pages: 87 Posted: 15 Jan 2020
Diana Zigraiova, Aitor Erce and Xu Jiang
Charles University in Prague, UPNA and European Stability Mechanism
Downloads 1 (812,342)

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Euro area sovereign bond market; forecasting; sovereign debt crises; sovereign market access; variable selection

27.

Official Debt Restructurings and Development

Globalization and Monetary Policy Institute Working Paper No. 339
Number of pages: 32 Posted: 15 Jun 2018 Last Revised: 29 Apr 2020
Gong Cheng, Javier Diaz-Cassou and Aitor Erce
European Stability Mechanism, London School of Economics & Political Science (LSE) and UPNA
Downloads 25 (593,401)
Citation 1

Abstract:

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Official debt, sovereign debt restructuring, Paris Club

28.

Costs of Sovereign Defaults: Restructuring Strategies and Financial Intermediation

Number of pages: 37 Posted: 24 May 2021
International Monetary Fund (IMF) Research Department, International Monetary Fund (IMF) - Research Department, UPNA and Keio University
Downloads 11 (692,932)
Citation 1

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Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; GDP Growth; Investment; Local Projection

29.

Skewed Credit and Growth Dynamics after the Global Financial Crisis

Asian Development Bank Economics Working Paper Series No. 562 (October, 2018)
Number of pages: 51 Posted: 22 Feb 2019
Asian Development Bank - Economic Research, UPNA, Asian Development Bank - Economic Research and European Stability Mechanism
Downloads 9 (708,469)

Abstract:

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credit dynamics, economic growth, skewness

30.

Debt Sustainability and the Terms of Official Support

CEPR Discussion Paper No. DP13292
Number of pages: 53 Posted: 05 Nov 2018
Giancarlo Corsetti, Aitor Erce and Timothy Uy
University of Cambridge, UPNA and Deloitte LLP
Downloads 1 (776,357)
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Bailouts, Debt maturities, default, Rollover Risk, Sovereign debt, Spread

31.

Official Sector Lending Strategies During the Euro Area Crisis

CEPR Discussion Paper No. DP12228
Number of pages: 57 Posted: 21 Aug 2017 Last Revised: 18 Sep 2017
University of Cambridge, UPNA and University of Minnesota - Minneapolis
Downloads 0 (793,378)
Citation 2
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Crisis management, debt sustainability, loans maturity, market access, private sector involvement, seniority, yield curve.