Now showing items 1-2 of 2
Grace periods in sovereign debt
(Wiley-Blackwell Publishing Ltd., 1999)
This paper presents a theoretical analysis of grace periods in the context of an overhang of external debt creating a tax on domestic investment. The grace period arises as a Nash equilibrium strategy of the creditor in a ...
Central Bank independence and financing government spending
(Elsevier BV, 1998)
This paper incorporates the effect of the central bank's independence into the government's optimum financing model. When the implications of the hypotheses are tested for eighteen OECD countries, this paper shows that ...