Trustees versus fiscal agents for sovereign bonds
نویسندگان
چکیده
منابع مشابه
A fiscal theory of sovereign risk
Under certain monetary-fiscal regimes the risk of default and thus the emergence of sovereign risk premiums are inevitable. This paper argues that in this context even small differences in the specification of monetary policy can have enormous effects on the equilibrium behavior of default rates and risk premiums. Under some monetary policy rules studied, the conditional expectation of default ...
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ژورنال
عنوان ژورنال: Capital Markets Law Journal
سال: 2018
ISSN: 1750-7219,1750-7227
DOI: 10.1093/cmlj/kmy012