Now showing items 1-2 of 2
Understanding Policy Responses to External Shocks in Developing Countries
(1986-07)
This paper shows that trade patterns can be crucual in explaining different policy responses to external shocks, such as the contraction of foreign capital inflows faced by developing countries since 1982. Based on the ...
Optimal Adjustment Policy and Debt-Restructuring Under Asymmetric Information
(1987-04)
With some probabiity a country will find it infeasible to honor its international obligations. If the probabiity distribution of that feasibiity depends on unobservable aspects of the country's economic policy, the moral ...