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TYING YOURSELF TO THE MAST: PAINFUL DEBT AS A ...
https://www.cerf.cam.ac.uk/sites/www.cerf.cam.ac.uk/files/media/niermann_tying_yourself_to_the_mast.pdf19 Jun 2024: LENNART NIERMANNDepartment of Economics, University of Cambridge. This paper studies why countries end up at a disadvantageous point of high debt and higheconomic cost of default. ... nermeier, participants at the Cambridge Macroeconomic PhD Workshop,
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