A primer on the empirics of original sin

Stéphane Colliac () and Nader Akmar ()
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Stéphane Colliac: Lare-efi, Université Montesquieu Bordeaux IV
Nader Akmar: Lare-efi, Université Montesquieu Bordeaux IV

Economics Bulletin, 2005, vol. 6, issue 23, 1-12

Abstract: The empirical literature on "original sin" could be misleading. Eichengreen and Hausmann (1999) defined "original sin" as a liability dollarization bias and as a short term maturity bias. This is a source of concern for all emerging borrowers. However, the existing estimators of "original sin" only account for the dollarization bias and ignore the maturity bias. In this paper, we provide a new estimator, accounting for the two accepts of "original sin".

JEL-codes: E0 F3 (search for similar items in EconPapers)
Date: 2005-12-06
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