Uncertainty Premia, Sovereign Default Risk, and State-Contingent Debt /

We analyze how concerns for model misspecification on the part of international lenders affect the desirability of issuing state-contingent debt instruments in a standard sovereign default model a la Eaton and Gersovitz (1981). We show that for the commonly used threshold state-contingent bond struc...

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Xehetasun bibliografikoak
Egile nagusia: Roch, Francisco
Beste egile batzuk: Roldan, Francisco
Formatua: Aldizkaria
Hizkuntza:English
Argitaratua: Washington, D.C. : International Monetary Fund, 2021.
Saila:IMF Working Papers; Working Paper ; No. 2021/076
Gaiak:
Sarrera elektronikoa:Full text available on IMF

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