Møen, Jarle; Schindler, Dirk; Schjelderup, Guttorm - Institutt for foretaksøkonomi, Norges Handelshøyskole … - 2008
In a recent article, Huizinga, Laeven and Nicodème (2008) present a novel model that motivates an extensive empirical analysis of international debt shifting. We point out that the model fails to account for internal debt, and that once internal debt is properly accounted for, the external debt...