The Dynamics of Sovereign Debt Crises and Bailouts /
Motivated by the recent European debt crisis, this paper investigates the scope for a bailout guarantee in a sovereign debt crisis. Defaults may arise from negative income shocks, government impatience or a "sunspot"-coordinated buyers strike. We introduce a bailout agency, and characteriz...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
2016.
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| Series: | IMF Working Papers; Working Paper ;
No. 2016/136 |
| Online Access: | Full text available on IMF |