- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus long …

- term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus long …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus long …

the gains from default induced redistribution against the cost of defaulting. Ex ante, the government issues debt of …I analyze how lack of commitment affects the maturity structure of sovereign debt. Ex post, the government trades off … of government assets (tax collections) and liabilities (debt redemption) and avoids dilution as well as debt rollovers …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of … default induced redistribution and costs due to income losses in the wake of a default. Their choice of short- versus long …

-term debt affects default and rollover decisions by subsequent policy makers. The equilibrium maturity structure is shaped by … low, or a cross default more likely. These predictions are consistent with empirical evidence. -- Debt ; maturity …I analyze how lack of commitment affects the maturity structure of sovereign debt. Governments balance benefits of …

The sovereign debt crisis in the euro area has raised interest in early warning indicators, aimed at signalling the …

During the pandemic, public debt in Latin America and the Caribbean rose to more than 70 percent of GDP, and countries … are now attempting to lower debt ratios. We analyze past debt reduction episodes and find inflation and the real interest … rate were the most frequent main drivers, while higher growth, fiscal consolidation and debt restructuring were relatively …

The euro-area sovereign debt crisis is receding. Europe is on a recovery path, growth is broad-based and unemployment …, debt remains high in most countries and future debt crises should not be ruled out. While the memories are fresh, it is a … markets, whose tolerant behaviour to sovereign demands encouraged the built up of debt, while their finicky response …