The external costs associated with Australia's foreign debts : analysis and measurement
An important macroeconomic issue in Australia is whether Australia's foreign debt, particularly that of the private sector, imposes an external cost on other residents of the country. The traditional source of an external cost associated with foreign debt is ruled out in the Australian case as it is found not to have any monopsony power in the world capital market. However, an external cost can also come from interaction between private and public debt. This interaction could occur in...[Show more]
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