Dealing With Debt: The 1930s and the 1980s
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This paper analyzes the sovereign defaults of the 1930s and their implications for the debt crisis of the 1980s. It reports nine major findings. There is little evidence that financial markets have grown more sophisticated' over time, or that banks have a comparative advantage over the bond market
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美国国家经济研究局创建时间：
1989-02-01
