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...

Полное описание

Библиографические подробности
Главный автор: Asonuma, Tamon
Формат: Журнал
Язык:English
Опубликовано: Washington, D.C. : International Monetary Fund, 2016.
Серии:IMF Working Papers; Working Paper ; No. 2016/037
Online-ссылка:Full text available on IMF