Sovereign Defaults, External Debt, and Real Exchange Rate Dynamics /
Emerging countries experience real exchange rate depreciations around defaults. In this paper, we examine this observed pattern empirically and through the lens of a dynamic stochastic general equilibrium model. The theoretical model explicitly incorporates bond issuances in local and foreign curren...
| 1. autor: | |
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| Format: | Czasopismo |
| Język: | English |
| Wydane: |
Washington, D.C. :
International Monetary Fund,
2016.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2016/037 |
| Dostęp online: | Full text available on IMF |