Optimal Bailouts in Banking and Sovereign Crises
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https://www.nber.org/papers/w28412
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We study optimal bailout policies amidst banking and sovereign crises. Our model features sovereign borrowing with limited commitment, where domestic banks hold government debt and extend credit to the private sector. Bank capital shocks can trigger banking crises, prompting the government to
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美国国家经济研究局创建时间：
2021-02-01
