Dvorkin, Maximiliano A.; Sanchez, Juan M.; Sapriza, Horacio - 2018
productivity, suggesting that news about future economic developments may play an important role in these episodes. In a VAR … estimation, a news shock has a larger contemporaneous impact on sovereign credit spreads than a comparable shock to labor … productivity. A quantitative model of news and sovereign debt default with endogenous maturity choice generates impulse responses …