https://documents.worldbank.org/pt/publication/documents-reports/documentdetail/312641492044258241/optimal-borrowing-and-overborrowing-some-simple-simulation-lessons
Optimal borrowing and overborrowing : some simple simulation lessons
This paper examines optimal foreign borrowing in a certainty world with a lending constraint that ensures that countries never have an incentive to repudiate....
optimalborrowingsimplesimulationlessons