Sudden Stops and Optimal Self-Insurance

Sudden Stops and Optimal Self-Insurance
This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the global games framework of Morris and Shin to establish a unique relationship between the probability of a sudden stop and the level of... READ MORE...

Publication date: June 2008
ISBN 9781451870022
$18.00

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