A Solution to the Disconnect between Country Risk and Business Cycle Theories
收藏NBER2008-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13861
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资源简介：
We propose a model that solves the crucial disconnect between business cycle models that treat default risk as an exogenous interest rate on working capital, and sovereign default models that treat output fluctuations as an exogenous process with ad-hoc default costs. The model explains observed
提供机构：
美国国家经济研究局
创建时间：
2008-03-01
