TY  - JOUR
AU  - Razin,Assaf
AU  - Sadka,Efraim
TI  - A Brazilian Debt-Crisis Model
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 9211
PY  - 2002
Y2  - September 2002
UR  - http://www.nber.org/papers/w9211
L1  - http://www.nber.org/papers/w9211.pdf
N1  - Author contact info:
Assaf Razin
Department of Economics
Cornell University
Uris 422
Ithaca, NY 14853
Tel: 607/255-9625
Fax: 607/255-2818
E-Mail: ar256@cornell.edu

Efraim Sadka
Tel Aviv University
Eitan Berglas School of Economics
P.O.B. 39040
Ramat Aviv, Tel Aviv, 69978, ISRAEL
E-Mail: sadka@post.tau.ac.il
AB  - We develop a model that captures important features of debt crises of the Brazilian type. Its applicability to Brazil lies in the fact that (1) in Brazil the macro fundamentals were sound (e.g., a primary surplus, a relatively low debt/GDP ratio, etc.); and (2) in the Brazilian case the trigger appears to be the forthcoming elections, with an expected regime change.
ER  -