Articles by: Juan Pablo Nicolini




Self-fullfilling Profecies in Sovereign Debt Markets

Self-fullfilling Profecies in Sovereign Debt Markets

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This is based on the Minneapolis Fed Working Paper 723, “Sovereign Default: The Role of Expectations”, by Joao Luiz Ayres, Gaston Navarro,  Juan Pablo Nicolini  and Pedro Teles. Bonds issued by sovereign governments are special since there is no collateral posed and there are no international courts that can makeRead More