Default Risk, Sectoral Reallocation, and Persistent Recessions
收藏NBER2017-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w23835
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资源简介：
Sovereign debt crises are associated with large and persistent declines in economic activity, disproportionately so for nontradable sectors. This paper documents this pattern using Spanish data and builds a two-sector dynamic quantitative model of sovereign default with capital accumulation.
提供机构：
美国国家经济研究局
创建时间：
2017-09-01
