We compare the experience of Latin American external debt crises, in particular the one in the 80s, with the current European one. We do so with the aim of shedding some light on the needed adjustment mechanisms. We argue for the need of much larger debt relief in Europe. To address the moral...

We are seeking to understand the costs of deflation. To that end, we assess the extent to which deflationary risks have surged in a selected group of European economies. Specifically, we develop a simple consumption-based asset pricing model and, based on it, we estimate a(n) (in)deflation risk...

Our interest is to understand the costs of deflation. Thus, we explore the extent to which deflationary risks have surged in a selected set of European economies. To that end, we develop a simple consumption-based asset pricing model and, based on it, we estimate a(n) (in)deflation risk premium....