Toward a Lender of First Resort /
If interest rates (country spreads) rise, debt can rapidly be subject to a snowball effect, which becomes self-fulfilling with regard to the fundamentals themselves. This is a market imperfection, because we cannot be confident that the unaided market will choose the "good" over the "...
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| Övriga upphovsmän: | |
| Materialtyp: | Tidskrift |
| Språk: | English |
| Publicerad: |
Washington, D.C. :
International Monetary Fund,
2006.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2006/066 |
| Länkar: | Full text available on IMF |