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Competition and Intervention in Sovereign Debt Markets

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NBER2001-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w8679
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We investigate markets for defaultable sovereign debt in which even though there are many identical lenders and symmetric information (including no hidden actions), perfect competition does not obtain. When a private lender allows a sovereign country to increase its level of indebtedness, that
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2001-12-01
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