Wisdom Central

CREI is holding another summer school in Barcelona. CREI's best and brightest are offering classes; I am going to talk about Sovereign Debt Crises, combining theory and empirics (both historical and recent). What's on the menu? Here is the summary:

Sovereign Debt Crises: Past, Present and Future

Instructor: Hans Joachim Voth

Selected Topics:

• Is this time different? Sovereign debt crises over the long run
• Illiquidity and insolvency: Measurement and conceptual issues
• Punishment vs reputation in theory and practice
• The price of default: Investor returns from sovereign debt, 1850-2010
• Stability at what price? Solvency, austerity, and social instability
• Regulating stability: Plans for a “New Financial Architecture”

Dates: July 2 – 6

Time: 13:30 – 15:30 h

Price: 600 Euros (Students: 400 Euros)

As you can see, I will cover a bunch of things, from a conceptual framework for sovereign debt crises, the risk of self-fulfilling "debt runs" and the absence of state-contingent debt to important empirical regularities over the last 200 years (with a detailed discussion of Reinhart and Rogoff's classic This Time Is Different). I will also talk about some of my recent research on the link between political and social instability and austerity (short summary over at VOX here).

You can sign up here.