"An expert guide to surviving the coming hyperinflation and potential disruption What's Wrong with Money? explores how and why money is valued and the warning signs that point to its eventual collapse. Author Michael Ashton is widely regarded as a premier expert on inflation, and in this book,...

We develop a sovereign debt model with official and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to official lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...

We develop a sovereign debt model with offcial and private creditors where default risk depends on both the level and the composition of liabilities. Higher exposure to offcial lenders improves incentives to repay but carries extra costs, such as reduced ex-post flexibility. The model implies...