Self-Fulfilling Debt Crises, Revisited
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https://www.nber.org/papers/w23312
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We revisit self-fulfilling rollover crises by exploring the potential uncertainty introduced by a gap (however small) between an auction of new debt and the payment of maturing liabilities. It is well known (Cole and Kehoe, 2000) that the lack of commitment at the time of auction to repayment of
我们通过探索新债拍卖与到期负债偿付之间(无论多小的)缺口所引入的潜在不确定性,重新审视自我实现的债务展期危机(self-fulfilling rollover crises)。众所周知(Cole and Kehoe,2000),在拍卖时缺乏对还款的承诺
提供机构:
美国国家经济研究局
创建时间:
2017-04-01



