Can Debt Crises Be Self-Fulfilling? /
Several papers argue that debt crises can be the result of self-fulfilling expectations that no one will lend to a country. I show this type of coordination failure can be eliminated by a combination of state-contingent securities and a mechanism that allows investors to promise to lend only if enou...
Autor principal: | |
---|---|
Format: | Revista |
Idioma: | English |
Publicat: |
Washington, D.C. :
International Monetary Fund,
2004.
|
Col·lecció: | IMF Working Papers; Working Paper ;
No. 2004/099 |
Accés en línia: | Full text available on IMF |