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...

Volledige beschrijving

Bibliografische gegevens
Hoofdauteur: Chamon, Marcos
Formaat: Tijdschrift
Taal:English
Gepubliceerd in: Washington, D.C. : International Monetary Fund, 2004.
Reeks:IMF Working Papers; Working Paper ; No. 2004/099
Online toegang:Full text available on IMF