Front Matter Page
Research Department
Authorized for distribution by Gian Maria Milesi-Ferretti
Contents
I. Introduction
II. Theory
A. Model
B. Comparative Statics
C. Discussion
III. Empirics
IV. Conclusion
Appendices
1. Proof of Propositions
2. Data Construction and Sources
References
Tables
1. Real GDP Volatility and Persistence and Countries’ Repayment Records, 1870-1939
2. Real GDP Volatility and Persistence and Countries’ Repayment Records, 1960-2004
3. Determinants of Sovereign Spreads: 1870-1913
4. Determinants of Sovereign Spreads: 1870-1913
5. Determinants of Sovereign Spreads: 1925-1939
6. Determinants of Sovereign Spreads: 1925-1939
7. Determinants of Sovereign Spreads: 1994-2005
8. Determinants of Sovereign Spreads: 1994-2005
9. Determinants of the Default Premium, 1870-1939
10. Determinants of the Default Premium, 1870-1939
Figures
1. Persistence and Default Traps