Optimal Maturity Structure of Sovereign Debt in Situation of Near Default /
We study the relationship between default and the maturity structure of the debt portfolio of a Sovereign, under uncertainty. The Sovereign faces a trade-off between a future costly default and a high current fiscal effort. This results into a debt crisis in case a large initial issuance of long ter...
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| Định dạng: | Tạp chí |
| Ngôn ngữ: | English |
| Được phát hành: |
Washington, D.C. :
International Monetary Fund,
2014.
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| Loạt: | IMF Working Papers; Working Paper ;
No. 2014/168 |
| Truy cập trực tuyến: | Full text available on IMF |