Why Official Bailouts Tend Not To Work: An Example Motivated by Greece 2010

作者：CHRISTOPHE P. CHAMLEY, Brian Pinto · 发表于：The Economists Voice · 年份：2011 · DOI：10.2202/1553-3832.1821 · 被引用次数：15 · 研究领域：Global Financial Crisis and Policies、Fiscal Policy and Economic Growth、European Monetary and Fiscal Policies

Christophe Chamley of Boston University and Brian Pinto of the World Bank use recent events in Greece to illustrate that official bailouts tend not to work when countries have fundamental fiscal (‘insolvency’) problems and construct a two-period numerical example to explain why this should not come as a surprise.