Gambling for Redemption and Self-Fulfilling Debt Crises
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We develop a model for analyzing the sovereign debt crises of 20102013 in the Eurozone. The government sets its expenditure-debt policy optimally. The need to sell large quantities of bonds every period leaves the government vulnerable to self-fulfilling crises in which investors, anticipating a
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美国国家经济研究局创建时间：
2015-03-01
