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productivity. A quantitative model of news and sovereign debt default with endogenous maturity choice generates impulse responses … precision of news allows the government to improve its debt maturity management, especially during periods of high stress in …
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The euro-area sovereign debt crisis is receding. Europe is on a recovery path, growth is broad-based and unemployment is falling. One after the other, countries hit hardest by the crisis are exiting their adjustment programmes. However, debt remains high in most countries and future debt crises...
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This paper studies the optimal maturity structure for government debt when markets for liquidity insurance are …
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