Pina, Gonçalo - In: Credit and Capital Markets – Kredit und Kapital 55 (2022) 1, pp. 35-66
State-contingent government debt has been proposed as a way to reduce costly debt crisis. However, markets for this … type of debt remain very limited, for reasons that are not yet fully understood. This paper describes a new database … covering state-contingent government debt issued between 1863 and 2020. Based on these data, this paper shows stylized facts …