Sovereign Debt and Consumption Smoothing
收藏NBER1997-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5997
下载链接
链接失效反馈官方服务：
资源简介：
This paper shows that whether or not a sovereign can borrow to smooth consumption depends both on how consumption smoothing is achieved, whether by contingent debt issuance or by contingent debt servicing, and on the exact nature of the penalty for debt repudiation. If a sovereign that repudiated
提供机构：
美国国家经济研究局
创建时间：
1997-04-01
