Take the Short Route: Equilibrium Default and Debt Maturity
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We study the interactions between sovereign debt default and maturity choice in a setting with limited commitment for repayment as well as future debt issuances. Our main finding is that under a wide range of conditions the sovereign should, as long as default is not preferable, remain passive in
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美国国家经济研究局创建时间：
2016-11-01
