Sovereign Debt as a Contingent Claim: Excusable Default, Repudiation, and Reputation
收藏NBER1985-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1673
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History suggests the following stylized facts about default on sovereign debt:(1) Defaults are associated with identifiably bad states of the world. (2) Defaults are usually partial, rather than complete.(3) Sovereign states usually are able to borrow again soon after a default. Motivated by these
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美国国家经济研究局创建时间：
1985-07-01
