haku: @author Cole, H. / yhteensä: 3
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| Tekijä: | Cole, H. Kehoe, T. |
| Otsikko: | Self-fulfilling debt crises |
| Lehti: | Review of Economic Studies
2000 : JAN, VOL. 67:230, p. 91-116 |
| Asiasana: | DEBT CRISES ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | The authors characterise the values of government debt and the debt's maturity structure under which financial crises brought on by a loss of confidence in the government can arise within a dynamic, stochastic general equilibrium model. They also characterise the optimal policy response of the government to the threat of such a crisis. They show that when the country's fundamentals place it inside the the crisis zone, the government may be motivated to reduce its debt and exit the crisis zone debt. |
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