Matthieu, Bussiere; Marcel, Fratzscher; Winfried, Koeniger - In: The B.E. Journal of Macroeconomics 6 (2006) 1, pp. 1-28
Although a lot has been written on the link between debt maturity and financial crises, it remains puzzling why the private sector in emerging market economies holds such a large share of short-term debt in the presence of substantial macroeconomic risk. To understand this phenomenon, we propose...