The economics of sovereign debt and default

• 資料種別: 図書
• ISBN: 9780691176819 (hardcover); 0691176817 (hardcover)
• ISBN（エラーコード）: 9780691189246 (ebook)
• タイトル: The economics of sovereign debt and default
• 著者・編者: Mark Aguiar, Manuel Amador
• シリーズタイトル: CREI lectures in macroeconomics
• タイトル標目: CREI lectures in macroeconomics
• 著者標目: Aguiar, Mark; Amador, Manuel (Manuel A.)
• 出版事項: Princeton, New Jersey : Princeton University Press (出版)
• 出版年月日等: [2021]; 著作権日付 : ©2021
• 出版年（W3CDTF）: 2021
• 数量: xvi, 181 pages
• 形態の詳細: illustrations
• 大きさ: 24 cm
• 出版地（国名コード）: US
• 本文の言語コード: eng
• 表現種別: text
• 機器種別: unmediated
• キャリア種別: volume
• 件名標目: Debts, External; Debts, Public; Default (Finance); Dettes extérieures; Dettes publiques; Défaillance (Finances)
• LCC: HG3891.5
• DDC: 336.3/435
• NDLC: DE161
• 対象利用者: 一般
• 資料の内容に関する注記: Fiscal crises and sovereign default repeatedly threaten the stability and growth of economies around the world. Mark Aguiar and Manuel Amador provide a unified and tractable theoretical framework that elucidates the key economics behind sovereign debt markets, shedding light on the frictions and inefficiencies that prevent the smooth functioning of these markets, and proposing sensible approaches to sovereign debt management. The Economics of Sovereign Debt and Default looks at the core friction unique to sovereign debt-the lack of strong legal enforcement-and goes on to examine additional frictions such as deadweight costs of default, vulnerability to runs, the incentive to "dilute" existing creditors, and sovereign debt's distortion of investment and growth. The book uses the tractable framework to isolate how each additional friction affects the equilibrium outcome, and illustrates its counterpart using state-of-the-art computational modeling. The novel approach presented here contrasts the outcome of a constrained efficient allocation-one chosen to maximize the joint surplus of creditors and government-with the competitive equilibrium outcome. This allows for a clear analysis of the extent to which equilibrium prices efficiently guide the government's debt and default decisions, and of what drives divergences with the efficient outcome. Providing an integrated approach to sovereign debt and default, this incisive and authoritative book is an ideal resource for researchers and graduate students interested in this important topic
• 書誌注記: Includes bibliographical references (pages 161-171) and index
• 所蔵機関: 国立国会図書館
• 請求記号: DE161-D2
• 連携機関・データベース: 国立国会図書館 : 国立国会図書館蔵書; https://ndlsearch.ndl.go.jp
• 書誌ID（NDLBibID）: 031663588; http://id.ndl.go.jp/bib/031663588
• OCLC番号: 1246625433; https://www.worldcat.org/oclc/1246625433
• 目録規則: RDA
• 整理区分コード: 211

• 内容細目: IntroducionLimited commitmentGrowth under limited commitment...