Publication: Why Official Bailouts Tend Not to Work: An Example Motivated by Greece 2010
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Date
2011
ISSN
15533832
Published
2011
Author(s)
Editor(s)
Abstract
The authors 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.