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