Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
收藏NBER2013-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19516
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资源简介：
We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential for self-fulfilling debt crises. Inflation is costly, but reduces the real value of outstanding debt without the full punishment of default. With high inflation credibility, which
提供机构：
美国国家经济研究局
创建时间：
2013-10-01
