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Browsing ADEMU Working Papers Series by Subject "Multiple equilibria"

Browsing ADEMU Working Papers Series by Subject "Multiple equilibria"

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  • Ari, Anil; Corsetti, Giancarlo; Dedola, Luca (2018-04)
    Is the seniority structure of sovereign debt neutral for a government’s decision between defaulting and raising surpluses? In this paper, we address this question using a model of debt crises where a discretionary government ...
  • Ravn, Morten O.; Sterk, Vincent (2016-10)
    New Keynesian models with unemployment and incomplete markets are rapidly becoming a new workhorse model in macroeconomics. Such models typically require heavy computational methods which may obscure intuition and overlook ...
  • Ayres, João; Navarro, Gaston; Nicolini, Juan Pablo; Teles, Pedro (2016-06)
    In the standard model of sovereign default, as in Aguiar and Gopinath (2006) or Arellano (2008), default is driven by fundamentals alone. There is no independent role for expectations. We show that small variations of that ...
  • Ayres, João; Navarro, Gaston; Nicolini, Juan Pablo; Teles, Pedro (2018-02)
    In the standard model of sovereign default, as in Aguiar and Gopinath (2006) or Arellano (2008), default is driven by fundamentals alone. There is no independent role for expectations. We show that small variations of ...

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