| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP926 |
| DP926 Competition, Market Niches, and Efficiency: A Structural Model of the European Airline Industry | |
| Lars-Hendrik Röller; Robin Siekles | |
| 发表日期 | 1994-03-31 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | Interest rates fell sharply after Mexico's Brady deal, and private investment and growth recovered. We show, econometrically, that debt relief influenced the macroeconomy mostly though its favourable impact on uncertainty. While the impact of the variability of the future net transfer is significant, the impact of the net transfer itself is not. Specifically the favourable impact on uncertainty about future exchange rate crises is the dominant explanation of the macroeconomic response to debt relief. These results confirm the beneficial macroeconomic effects of debt relief, but reject the debt overhang hypothesis as a dominant factor. |
| 主题 | International Macroeconomics |
| 关键词 | Debt relief Debt uncertainty Investment and uncertainty Uncertainty and economic growth |
| URL | https://cepr.org/publications/dp926 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530067 |
| 推荐引用方式 GB/T 7714 | Lars-Hendrik Röller,Robin Siekles. DP926 Competition, Market Niches, and Efficiency: A Structural Model of the European Airline Industry. 1994. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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