We shed light on the function, properties and optimal size of austerity using the standard sovereign model augmented to … include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired … by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a more …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …

We shed light on the function, properties and optimal size of austerity using the standard sovereign model augmented to … include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired … by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a more …

We shed light on the function, properties and optimal size of austerity using the standard sovereign model augmented to … include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired … by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a more …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …

We shed light on the function, properties and optimal size of austerity using the standard sovereign model augmented to … include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the level desired … by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a more …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …

We shed light on the function, properties and optimal size of austerity using the standard sovereign debt model … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the … level desired by a country and supported by its repayment capacity. We find that austerity serves as a tool for securing a …