Persistent Gaps, Volatility Types, and Default Traps /
We show that cross-country differences in the underlying volatility and persistence of macroeconomic shocks help explain two historical regularities in sovereign borrowing: the existence of "vicious" circles of borrowing-and-default ("default traps"), as well as the fact that rec...
| 主要作者: | |
|---|---|
| 其他作者: | , |
| 格式: | 杂志 |
| 语言: | English |
| 出版: |
Washington, D.C. :
International Monetary Fund,
2007.
|
| 丛编: | IMF Working Papers; Working Paper ;
No. 2007/148 |
| 在线阅读: | Full text available on IMF |