Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-based Approach

WP/13/269

Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-based Approach
We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical evidence, we make the following three key assumptions. First, sovereign debt is held by domestic agents and by agents in the rest of the monetary union.... READ MORE...

Publication date: December 2013
ISBN 9781484333754
$18.00

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Publication date: December 2013

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Publication date: December 2013

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