Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default

Pablo D'Erasmo, Enrique G. Mendoza

NBER Working Paper No. 19477
Issued in September 2013, Revised in July 2015

---- Acknowledgments ----

We acknowledge the generous support of the National Science Foundation under awards 1325122 and 1324740. Comments by Jesse Schreger, Fabrizio Perri, Vincenzo Quadrini and by participants at presentations in Columbia University, the 2014 Winter Meetings of the Econometric Society, and the NBER Conference on Sovereign Debt and Financial Crises are also gratefully acknowledged. We thank Jingting Fan for excellent research assistance. The views expressed in this paper do not necessarily reflect those of the Federal Reserve Bank of Philadelphia, the Federal Reserve System, or the National Bureau of Economic Research.

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