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Essays on Sovereign Debt Crisis

Okachi, Michinao


This thesis consists of three chapters that aim to develop economic models to explain sovereign debt crises. Chapter 2 provides the dynamic general equilibrium model of endogenous sovereign default, incorporating financial intermediaries. By a government's decision to default, government bonds become non-performing and financial intermediaries eliminate them from their net worth. While other literature on endogenous default models assumes that the default...[Show more]

CollectionsOpen Access Theses
Date published: 2017
Type: Thesis (PhD)
DOI: 10.25911/5d6cfb43be042


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