The productivity cost of sovereign default: evidence from the European debt crisis
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DOI: 10.1007/s00199-015-0939-y
Abstract: We calibrate the cost of sovereign defaults using a continuous time model, where government default decisions may trigger a change in the regime of a stochastic TFP process. We calibrate the model to a sample… read more here.
Keywords: cost sovereign; productivity cost; debt; default ... See more keywords