Tamon Asonuma

International Monetary Fund Research Department

Economist

700 19th Street NW

Washington, DC 20431

United States

  • International Monetary Fund Research Department

SCHOLARLY PAPERS

22

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Scholarly Papers (22)

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1.

Sovereign Defaults, External Debt and Real Exchange Rate Dynamics

Downloads 149 (186,978)
Citation 1

Sovereign Defaults, External Debt and Real Exchange Rate Dynamics

Number of pages: 42 Posted: 27 Mar 2014 Last Revised: 27 Aug 2014
Tamon Asonuma
International Monetary Fund Research Department
Downloads 109 (239,089)
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Sovereign defaults; External debt; Real exchange rate; Currency composition

Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics

IMF Working Paper No. 16/37
Number of pages: 49 Posted: 28 Mar 2016
Tamon Asonuma
International Monetary Fund Research Department
Downloads 40 (412,755)
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Sovereign Defaults, External Debt, Real Exchange Rate, Currency Composition of Debt, Bond Spreads, exchange, default, exchange rate, defaults, International Lending and Debt Problems, Asset Pricing, All Countries,

2.

Sovereign Debt Restructurings: Delays in Renegotiations and Risk Averse Creditors

Number of pages: 67 Posted: 12 Jan 2017 Last Revised: 23 Sep 2018
Tamon Asonuma and Hyungseok Joo
International Monetary Fund Research Department and Wayne State University - Department of Economics
Downloads 129 (209,946)

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Sovereign Debt; Sovereign Default; Sovereign Debt Restructuring; Delays in Negotiations; Risk Averse Creditor

3.

Is Banks’ Home Bias Good or Bad for Public Debt Sustainability?

Downloads 122 (219,010)

Is Banks’ Home Bias Good or Bad for Public Debt Sustainability?

IMF Working Paper No. 15/44
Number of pages: 38 Posted: 26 Mar 2015
Tamon Asonuma, Said Bakhache and Heiko Hesse
International Monetary Fund Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 105 (245,566)

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Banking sector, Sovereign debt, Public debt, Fiscal policy, Debt sustainability, Developed countries, Developing countries, Banks, Home Bias, Government Bond Yields, Primary Balance, Sovereign-bank Nexus, market, markets, bond spreads

Is Banks’ Home Bias Good or Bad for Public Debt Sustainability?

IMF Working Paper WP/15/44
Number of pages: 37 Posted: 16 Mar 2015
Tamon Asonuma, Said Bakhache and Heiko Hesse
International Monetary Fund Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 17 (532,705)

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Home Bias, Government Bond Yields, Debt Sustainability, Primary

4.

Sovereign Debt Restructurings: Preemptive or Post-Default

Downloads 108 (239,433)

Sovereign Debt Restructurings: Preemptive or Post-Default

CESifo Working Paper Series No. 5605
Number of pages: 54 Posted: 24 Nov 2015
Tamon Asonuma and Christoph Trebesch
International Monetary Fund Research Department and Kiel Institute for the World Economy
Downloads 108 (240,726)

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sovereign debt, default, debt restructuring, crisis resolution

Sovereign Debt Restructurings: Preemptive or Post-Default

CEPR Discussion Paper No. DP10950
Number of pages: 55 Posted: 27 Nov 2015
Tamon Asonuma and Christoph Trebesch
International Monetary Fund Research Department and Kiel Institute for the World Economy
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crisis resolution, debt restructuring, default, sovereign debt

5.

Serial Sovereign Defaults and Debt Restructurings

IMF Working Paper No. 16/66
Number of pages: 46 Posted: 04 May 2016
Tamon Asonuma
International Monetary Fund Research Department
Downloads 81 (288,494)

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Serial Default, Sovereign Default, Past Credit History, Haircuts, Recovery rates, Risk Premia, debt, default, defaults, return, defaulters, International Lending and Debt Problems, Open Economy Macroeconomics, All Countries,

6.

Serial Default and Debt Renegotiation

Number of pages: 44 Posted: 27 Mar 2014
Tamon Asonuma
International Monetary Fund Research Department
Downloads 79 (292,773)

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Serial default; Debt renegotiation; Past credit history; Recovery rates; Interest

7.

Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome?

Downloads 70 (313,733)

Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome?

Number of pages: 73 Posted: 21 Nov 2016 Last Revised: 06 Dec 2016
Tamon Asonuma, Marcos Chamon and Akira Sasahara
International Monetary Fund Research Department, International Monetary Fund (IMF) - Research Department and University of Idaho - College of Business & Economics
Downloads 61 (341,686)

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Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Trade; Panel Regression; Local Projections

Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome?

IMF Working Paper No. 16/222
Number of pages: 58 Posted: 03 Jan 2017
Tamon Asonuma, Marcos Chamon and Akira Sasahara
International Monetary Fund Research Department, International Monetary Fund (IMF) - Research Department and University of Idaho - College of Business & Economics
Downloads 9 (582,567)

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Sovereign debt defaults, Sovereign debt restructuring, External debt, Trade, Econometric models, Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Trade; Panel Regression; Local Projections;

8.

Sovereign Bond Prices, Haircuts and Maturity

Downloads 57 (348,341)

Sovereign Bond Prices, Haircuts and Maturity

IMF Working Paper No. 17/119
Number of pages: 38 Posted: 02 Jun 2017
Tamon Asonuma, Dirk Niepelt and Romain Ranciere
International Monetary Fund Research Department, University of Bern - Department of Economics and International Monetary Fund (IMF)
Downloads 43 (401,237)

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Sovereign Debt; Default; Debt Restructuring; Bond Prices; Haircuts; Maturity; Default Probability, Sovereign Debt, Default, Debt Restructuring, Bond Prices, Haircuts, Maturity, Default Probability, International Lending and Debt Problems, Open Economy Macroeconomics

Sovereign Bond Prices, Haircuts and Maturity

NBER Working Paper 23864, 2018
Number of pages: 49 Posted: 31 Jul 2018
Tamon Asonuma, Dirk Niepelt and Romain G. Rancière
International Monetary Fund Research Department, University of Bern - Department of Economics and Paris School of Economics (PSE)
Downloads 8 (588,912)

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Sovereign Debt; Sovereign Default; Debt Restructuring; Bond Prices; Haircuts; Maturity; Restructuring Probability

Sovereign Bond Prices, Haircuts and Maturity

NBER Working Paper No. w23864
Number of pages: 43 Posted: 02 Oct 2017
Tamon Asonuma, Dirk Niepelt and Romain G. Rancière
International Monetary Fund Research Department, University of Bern - Department of Economics and Paris School of Economics (PSE)
Downloads 4 (614,500)
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Sovereign Bond Prices, Haircuts and Maturity

CEPR Discussion Paper 12252
Number of pages: 45 Posted: 11 Sep 2017
Tamon Asonuma, Dirk Niepelt and Romain G. Rancière
International Monetary Fund Research Department, University of Bern - Department of Economics and Paris School of Economics (PSE)
Downloads 2 (632,813)

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Sovereign Debt; Sovereign Default; Debt Restructuring; Bond Prices; Haircuts; Maturity; Default Probability

Sovereign Bond Prices, Haircuts and Maturity

CEPR Discussion Paper No. DP12252
Number of pages: 45 Posted: 11 Sep 2017
Tamon Asonuma, Dirk Niepelt and Romain G. Rancière
International Monetary Fund Research Department, University of Bern - Department of Economics and Paris School of Economics (PSE)
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Bond Pricing, debt restructuring, Sovereign debt

9.

Dynamic Transition of the Exchange Rate Regime in the People's Republic of China

ADBI Working Paper 476
Number of pages: 29 Posted: 30 Apr 2014
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 44 (390,080)

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exchange rate regime, exchange rate adjustment, Chinese exchange rate regime, dynamic adjustment, transition path

10.

Dynamic Analysis of Exchange Rate Regimes: Policy Implications for Emerging Countries in Asia

ADBI Working Paper 502
Number of pages: 21 Posted: 30 Oct 2014
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 42 (397,139)

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exchange rate regimes, basket-peg, floating regime, interest rate rules

11.

Dynamic Effect of a Change in the Exchange Rate System: From a Fixed Regime to a Basket-Peg or a Floating Regime

ADBI Working Paper 517
Number of pages: 46 Posted: 10 Mar 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 41 (400,712)

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basket peg, floating regime, exchange rate transition, people's republic of china, thailand, monetary policy, Finance

12.

Dynamic Shift to a Basket-Peg or Floating Regime in East Asian Countries in Response to the People's Republic of China's Transition to a New Exchange Rate Regime

ADBI Working Paper 514
Number of pages: 40 Posted: 17 Feb 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 37 (416,118)

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basket peg, floating regime, exchange rate transition, People's Republic of China, monetary policy

13.

Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

Downloads 36 (420,115)

Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

ADBI Working Paper 518
Number of pages: 29 Posted: 04 Apr 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 21 (508,122)

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exchange rate transition, East Asia, capital account controls, exchange rate transition policies

Adjustments of Capital Account Restrictions and Exchange Rate Regimes in East Asia

Journal of International Commerce, Economics and Policy, Vol. 6, No. 3, 2015
Number of pages: 32 Posted: 29 Oct 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 15 (545,052)

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Adjustments of capital account; capital controls; exchange rate adjustments; exchange rate regime; transition policy; East Asia

14.

Choices of Optimal Monetary Policy Instruments Under the Floating and the Basket-Peg Regimes

The Singapore Economic Review, Vol. 57, No. 4, 2012
Number of pages: 31 Posted: 26 Jul 2014
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 33 (432,118)

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Basket-peg regime; Monetary Policy Instruments; Small Open Economy; Exchange Rate Regime

15.

Sovereign Debt Restructurings in Belize: Achievements and Challenges Ahead

IMF Working Paper No. 14/132
Number of pages: 29 Posted: 25 Aug 2014
Tamon Asonuma, Gerardo Peraza, Kristine Vitola and Takahiro Tsuda
International Monetary Fund Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF)
Downloads 31 (440,641)

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Sovereign debt restructuring, Belize, External debt, Debt restructuring, Debt sustainability, Inter-Creditor Equity, debt exchange, sovereign debt, public debt, debt management, debt exchanges, current account, commercial debt, public debt management, debt service payments, debt renegotiation, sovereign debtor, external liquidity, current account deficit, external public debt, debt service relief, bilateral creditors, debt management strategy, private creditors, current account deficits, debt obligations, central bank, multilateral creditors, debt servicing, long-term debt sustainability, repayment capacity, external debt service, debt negotiations, official creditors, debt renegotiation pro

16.

Welfare Effects of Monetary Integration: The Common Monetary Area and Beyond

IMF Working Paper WP/12/136
Number of pages: 33 Posted: 27 Jul 2014
Tamon Asonuma, Xavier Debrun and Paul R. Masson
International Monetary Fund Research Department, International Monetary Fund (IMF) - Research Department and affiliation not provided to SSRN
Downloads 14 (530,501)

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Common Monetary Area; Monetary Union; SADC countries

17.

Dynamic Effects of Changes in the Exchange Rate System

Asian Development Review 33:1, 2016
Number of pages: 51 Posted: 09 Apr 2016
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 9 (558,592)

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basket peg, dynamic transition analysis, East Asia, exchange rate regime, transition path

18.

Comparison of Static and Dynamic Analyses on Exchange Rate Regimes in East Asia

ADBI Working Paper 532
Number of pages: 32 Posted: 14 Jul 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 9 (558,592)

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exchange rate regimes, dynamic transition analysis, capital account management, exchange rate stability

19.

Sovereign Debt Restructurings in Grenada: Causes, Processes, Outcomes, and Lessons Learned

IMF Working Paper No. 17/171
Number of pages: 59 Posted: 05 Sep 2017
Tamon Asonuma, Mike Li, Michael G. Papaioannou, Saji Thomas and Eriko Togo
International Monetary Fund Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF) and World Bank
Downloads 8 (564,330)

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Grenada, Western Hemisphere, International financial markets, Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Serial Debt Restructurings; Serial Defaults; Grenada; Disaster Clause, Sovereign Debt, Sovereign Defaults, Sovereign Debt Restructurings, Serial Debt Restructurings, Serial Defaults, Disaster Clause, International Lending and Debt Problems

20.

Belize's 2016-17 Sovereign Debt Restructuring - Third Time Lucky?

IMF Working Paper No. 18/121
Number of pages: 27 Posted: 01 Aug 2018
Tamon Asonuma, Michael G. Papaioannou, Eriko Togo and Bert van Selm
International Monetary Fund Research Department, International Monetary Fund (IMF), International Monetary Fund (IMF) and International Monetary Fund (IMF) - Middle East and Central Asia Department
Downloads 5 (587,363)

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Sovereign debt, Sovereign debt restructuring, International financial markets, Fiscal consolidation, Fiscal reforms, Belize, Sovereign Debt; Sovereign Defaults; Sovereign Debt Restructurings; Serial Debt Restructurings; Belize, Sovereign Debt, Sovereign Defaults, Sovereign Debt Restructurings, Serial Debt Restructurings, International Lending and Debt Problems

21.

Dynamic Analysis of the Exchange Rate Regime: Policy Implications for Emerging Countries in East Asia

Review of Development Economics, Vol. 19, Issue 3, pp. 624-637, 2015
Number of pages: 14 Posted: 16 Jul 2015
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
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22.

Dynamic Transition of Exchange Rate Regime in China

China & World Economy, Vol. 22, Issue 3, pp. 36-55, 2014
Number of pages: 20 Posted: 15 May 2014
Naoyuki Yoshino, Sahoko Kaji and Tamon Asonuma
Asian Development Bank Institute, Keio University and International Monetary Fund Research Department
Downloads 0 (631,705)
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Chinese renminbi, Chinese exchange rate regime, dynamic adjustment, transition path