Self-Fulfilling Debt Dilution: Maturity and Multiplicity in Debt Models
收藏NBER2018-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w24683
下载链接
链接失效反馈官方服务：
资源简介：
We establish that creditor beliefs regarding future borrowing can be self-fulfilling, leading to multiple equilibria with markedly different debt accumulation patterns. We characterize such indeterminacy in the Eaton-Gersovitz sovereign debt model augmented with long maturity bonds. Two necessary
提供机构：
美国国家经济研究局
创建时间：
2018-06-01
