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- W1558374575 abstract "As the Eurozone crisis drags on, it is evident that a part of the problem lies in the architecture of debt and its liabilities within the Eurozone and, more generally, the European Union. This paper argues that a large part of the problem can be mitigated by permitting appropriately-structured cross-country liability for sovereign debt incurred by individual nations within the European Union. In brief, the paper makes a case for amending the Treaty of Lisbon. The case is established by constructing a game-theoretic model and demonstrating that there exist self-fulfilling equilibria, which would come into existence if cross-country debt liability were permitted and which are Pareto superior to the existing outcome." @default.
- W1558374575 created "2016-06-24" @default.
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- W1558374575 date "2013-08-01" @default.
- W1558374575 modified "2023-10-03" @default.
- W1558374575 title "International Lending, Sovereign Debt and Joint Liability: An Economic Theory Model for Amending the Treaty of Lisbon" @default.
- W1558374575 doi "https://doi.org/10.1596/1813-9450-6555" @default.
- W1558374575 hasPublicationYear "2013" @default.
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