Modelling Monetary and Fiscal Governance in the Wake of the Sovereign Debt Crisis in Europe
This paper analyzes different government debt relief programs in the European Monetary Union. I build a model and study different options ranging from debt relief to the European Stability Mechanism (ESM). The analysis reveals the following: First, patient countries repay debt, while impatient count...
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| Format: | Article |
| Language: | English |
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MDPI AG
2016-05-01
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| Series: | Economies |
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| Online Access: | http://www.mdpi.com/2227-7099/4/2/9 |