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History remembered: Optimal sovereign default on domestic and external debt

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0 Published in 2019 at "Journal of Monetary Economics"

DOI: 10.1016/j.jmoneco.2020.07.006

Abstract: Infrequent but turbulent overt sovereign defaults on domestic creditors are a "forgotten history" in Macroeconomics. We propose a heterogeneous-agents model in which the government chooses optimal debt and default on domestic and foreign creditors by… read more here.

Keywords: default; default domestic; debt; sovereign ... See more keywords