| 000 | 01564nam a22002537a 4500 | ||
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| 003 | ZW-GwMSU | ||
| 005 | 20240509135807.0 | ||
| 008 | 240509b |||||||| |||| 00| 0 eng d | ||
| 022 | _a10168737 | ||
| 040 |
_aMSU _bEnglish _cMSU _erda |
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| 050 | 0 | 0 | _aHB1A1 INT |
| 100 | 1 |
_aHatchondo, Juan Carlos _eauthor |
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| 245 | 1 | 0 |
_aSudden stops, time inconsistency, and the duration of sovereign debt _ccreated by Juan Carlos Hatchondo; Leonardo Martinez |
| 264 | 1 |
_aAbingdon: _bTaylor and Francis, _c2013 |
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| 336 |
_2rdacontent _atext _btxt |
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| 337 |
_2rdamedia _aunmediated _bn |
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| 338 |
_2rdacarrier _avolume _bnc |
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| 440 |
_aInternational economic journal _vVolume 27, number 2 |
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| 520 | 3 | _aWe study the sovereign debt duration chosen by the government in the context of a standard model of sovereign default. The government balances off increasing the duration of its debt to mitigate rollover risk and lowering duration to mitigate the debt dilution problem. We present two main results. First, when the government decides the debt duration on a sequential basis, sudden stop risk increases the average duration by 1 year. Second, we illustrate the time inconsistency problem in the choice of sovereign debt duration: governments would like to commit to a duration that is 1.7 years shorter than the one they choose when decisions are made sequentially. | |
| 650 |
_aSudden stops _vDebt dilution _xTime inconsistency, Debt maturity |
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| 700 | 1 |
_aMartinez, Leonardo _eco-author |
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| 856 | _uhttps://doi.org/10.1080/10168737.2013.796112 | ||
| 942 |
_2lcc _cJA |
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| 999 |
_c165401 _d165401 |
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