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and reaping the benefits of a positive reputation (glory). We leverage a simple reputation-building strategic choice …
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and reaping the benefits of a positive reputation (glory). We leverage a simple reputation-building strategic choice …
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How costly are sovereign debt crises? In this paper we study output losses during sovereign default and debt renegotiation episodes since 1980. In contrast to previous work, we account for the severity of default and not only for its occurrence. Specifically, we distinguish between "hard" and...
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reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …
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