Is a Long War Desirable? Optimal Debt Concessions in Attrition Warfare
The present paper extends the Alesina and Drazen (1991, American Economic Review 81, 1170-1188) war of attrition model by including a concession round. Before the date of stabilization, each player can agree to finance an additional amount of public deficit with the aim of reducing public debt and d...
|Main Author:||Maxime Menuet|
|Place of publication:||
|published in:||Annals of economics and statistics no. 139; pp. 105 - 130|
|Data of publication:||20200901|
|Online Access:||available in Bonn?|
Database information Databases - DBIS