Las paridades de poder adquisitivo (PPA) son las tasas de conversión de divisas que tratan de igualar el poder adquisitivo de distintas monedas mediante la eliminación de las diferencias de nivel de p
Organisation for Economic Co-operation and Development140
We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential for self-fulfilling debt crises. Inflation is costly, but reduces the real value o
The theoretical literature on sovereign defaults has focused on adverse shocks to debtors economies, suggesting that defaults are of an idiosyncratic nature. Still, sovereign debt crises are also of a
