Fiscal policy and default risk in emerging markets☆,☆☆
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For useful comments, we thank seminar participants at the Board of Governors of the Federal Reserve System, the Banco de México, the 2006 North American Summer Meeting of the Econometric Society, the 2006 Society of Economic Dynamics Meeting, the 2006 LACEA Meeting, the 2006 Wegmans Conference at the University of Rochester and the 2008 Macroeconomics of Emerging Countries Conference.
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The views expressed in this paper are those of the authors, and do not necessarily reflect those of the Federal Reserve Bank of Richmond or the Federal Reserve System.
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