Sovereign Debt, Reputation, and Credit Terms
收藏NBER1990-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w3424
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I develop a model in which sovereign debtors repay debt in order to maintain a reputation for repayment. Repayment gives creditors reason to think that the debtor will suffer adverse consequences if it defaults, so they continue to lend. I compare a situation in which competitive lenders earn a zero
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美国国家经济研究局创建时间：
1990-08-01
