Why Official Bailouts Tend Not To Work: An Example Motivated by Greece 2010
AbstractChristophe Chamley of Boston University and Brian Pinto of the World Bank use recent events in Greece to illustrate that official bailouts tend not to work when countries have fundamental fiscal (insolvency) problems and construct a two-period numerical example to explain why this should not come as a surprise.
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Bibliographic InfoArticle provided by De Gruyter in its journal The Economists' Voice.
Volume (Year): 8 (2011)
Issue (Month): 1 (February)
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Web page: http://www.degruyter.com
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- Juan Carlos Conesa & Timothy J. Kehoe, 2012.
"Gambling for redemption and self-fulfilling debt crises,"
465, Federal Reserve Bank of Minneapolis.
- Timothy Kehoe & Juan Carlos Conesa, 2012. "Gambling for Redemption and Self-Fulfilling Debt Crises," 2012 Meeting Papers 614, Society for Economic Dynamics.
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