I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … revenue losses on inframarginal units of debt that reflect the price impact of these decisions. The model predicts an interior …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped … by revenue losses on inframarginal units of debt that reflect the price impact of these decisions. The model predicts an …

I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped … by revenue losses on inframarginal units of debt that reflect the price impact of these decisions. The model predicts an …

What is an optimal or a sustainable external debt - for a country, region or sector? How should one monitor and … evaluate debt to preclude a crisis? We use stochastic optimal control/dynamic programming to derive an optimal debt. The … explain the implications of DP. An explicit example is the US Agricultural debt crisis. …

In this paper we empirically explore the relationship between debt and output in a panel of 72 countries over the … predicted by a standard small open economy model by Aguiar and Gopinath (2007), where debt and output endogenously respond to … total factor productivity (TFP) shocks. First, developing countries' debt falls after a positive output shock, while the …

Of the 41 HIPCs, 11 are classified by the IMF and World Bank as conflict-affected. Can debt relief reduce the level of … violent conflict in these countries? By providing additional resources to finance broad-based public spending, debt relief … broad-based public spending. But four things can go wrong with the use of debt relief in this way. First, the war party may …

Of the 41 HIPCs, 11 are classified by the IMF and World Bank as conflict-affected. Can debt relief reduce the level of … violent conflict in these countries? By providing additional resources to finance broad-based public spending, debt relief … broad-based public spending. But four things can go wrong with the use of debt relief in this way. First, the war party may …