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Crisis and Commitment: Inflation Credibility and the Vulnerability to Sovereign Debt Crises
Crisis and Commitment Inflation Credibility the Vulnerability Sovereign Debt Crises
2014/3/12
We propose a continuous time model of nominal debt and investigate the role of inflation credibility in the potential for self-fulfilling debt crises. Inflation is costly, but reduces the real value o...
School Admissions Reform in Chicago and England: Comparing Mechanisms by Their Vulnerability to Manipulation
Comparing Mechanisms Manipulation
2014/9/10
In Fall 2009, Chicago authorities abandoned a school assignment mechanism midstream, citing concerns about its vulnerability to manipulation. Nonetheless, they asked thousands of applicants to re-rank...