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79 p, 744.9 KB Sovereign debt and structural reforms / Müller, Andreas ; Storesletten, Kjetil ; Zilibotti, Fabrizio
We construct a dynamic theory of sovereign debt and structural reforms with three interacting frictions: limited enforcement, limited commitment, and incomplete markets. A sovereign country in recession issues debt to smooth consumption and makes reforms to speed up recovery. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.
2016 (ADEMU Working Paper Series ; 56)  
Detailed record - Creative Commons

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