Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
收藏数据链接：
官方服务：
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
