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...
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| Інші автори: | , |
| Формат: | Журнал |
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
2007.
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| Серія: | IMF Working Papers; Working Paper ;
No. 2007/148 |
| Онлайн доступ: | Full text available on IMF |