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Argentina as a test case, they show that incorporating long-term debt allows the model to match the average external debt …-to-output ratio, average spread on external debt, the standard deviation of spreads and simultaneously improve upon the model …
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In March 1989, U.S. Treasury Secretary Brady proposed a new approach to resolving the developing country debt problem and restoring the creditworthiness of restructuring countries. The Brady Plan encouraged market-based reductions in debt and debt service for countries implementing economic...
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Is the large current account deficit a problem for the U.S.? Economic theory offers some scenarios in which a current account deficit is a rational response to economic conditions or a response that may even enhance economic welfare. At the same time, recent research suggests that under certain...
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