Nominally Sovereign Debt, Risk Shifting, and Reputation
收藏NBER1987-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2259
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This paper analyzes a reputational equilibrium in a model in which nominally denominated sovereign debt serves to shift risk associated with the unpredictability of tax revenues from the sovereign to its lenders. The analysis answers the following set of related questions: Why would a sovereign
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美国国家经济研究局创建时间：
1987-05-01
