Pricing Sovereign Debt in Resource-Rich Economies

Pricing Sovereign Debt in Resource-Rich Economies
How do oil price movements affect sovereign spreads in an oil-dependent economy? I develop a stochastic general equilibrium model of an economy exposed to co-moving oil price and output processes, with endogenous sovereign default risk. The model explains a large proportion of business cycle fluctuations in interest-rate spreads in oil-exporting... READ MORE...

Publication date: November 2019
ISBN 9781513516431
$18.00

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