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 o
Aspects of the business or organization most impacted by interest rates, by North American Industry Classification System (NAICS), business employment size, type of business, business activity and maj
This paper investigates the role of self-fulfilling expectations in sovereign bond markets. We consider a model of sovereign borrowing featuring endogenous debt maturity, risk-averse lenders, and self
