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Persistent link: https://www.econbiz.de/10011599630
We present a novel and tractable model of long-term sovereign debt. We make two sets of contributions. First, on the substantive side, using Argentina as a test case we show that unlike one-period debt models, our model of long-term sovereign debt is capable of accounting for the average spread,...
Persistent link: https://www.econbiz.de/10010273666