Sargent-Wallace Meets Krugman-Flood-Garber, or: Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises
收藏NBER2002-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9190
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资源简介：
This paper argues that the frequent failure of the debt swaps is not an accident. Instead, it follows from fundamental forces driven by the market's assessment of the scarcity of fiscal revenue relative to the demand for fiscal outlays. It follows from the observation that arbitrage forces
提供机构：
美国国家经济研究局
创建时间：
2002-09-01
