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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Autor principal: Roch, Francisco
Altres autors: Uhlig, Harald
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 2016.
Col·lecció:IMF Working Papers; Working Paper ; No. 2016/136
Accés en línia:Full text available on IMF