IMF bailouts can raise risk of default: Buba paper
A Bundesbank paper published on Wednesday says bailouts from the International Monetary Fund (IMF) may increase the probability of a sovereign defaulting.
The paper's author, Nikolai Stähler, provides an overview of recent developments in the literature on quantitative dynamic macroeconomic models of sovereign default. He examines how these models can be more closely integrated into standard real-business cycle and dynamic stochastic general equilibrium frameworks. Stähler says the current
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