Book notes: Why not default?, by Jerome Roos

Why Not Default?

Jerome Roos, Why not default? The political economy of sovereign debt, Princeton University Press, 2019, 416 pages  

Governments go back on their word more often than most of us might like. Election promises are often dishonoured, tax rates changed and entitlement thresholds amended. But outright defaults on government debt seem to have become very infrequent.

Jerome Roos’s new book (adapted from his PhD thesis) focuses on the specific question of why there are not more unilateral sovereign

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