Optimal Reserve Management and Sovereign Debt
收藏NBER2007-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w13216
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To study the joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model that incorporates willingness-to-pay incentive problems. In this setup, debt and assets are not perfect substitutes, as reserves can be used even after a country has defaulted. We
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美国国家经济研究局创建时间：
2007-07-01
