Front Matter Page
Research Department
Contents
I. Introduction
II. Debt Repudiation: Possible Sanctions
III. Debt and Investment in a Two-period Model
IV. Debt and Investment in an Infinite-Horizon Model
1. The decentralized economy
2. Simulation results
V. Debt and Investment in a Model with Uncertainty
VI. Conclusions
References
Text Tables
1. Simulation Model
Appendix 1
Proof of the Relevant Inequalities of Section III
Appendix 2
Numerical Simulation Algorithm
Fig. 1
Fig. 2
Fig. 3
Fig. 4
Fig. 5