CQER Working Papers

CQER Working Papers feature the research of visiting scholars and distinguished economists. The papers are intended to stimulate professional discussion and exploration of quantitative economic research. Online only.


A Model of the Twin Ds: Optimal Default and Devaluation

Seunghoon Na, Stephanie Schmitt-Grohé, Martin Uribe, and Vivian Yue
CQER Working Paper 15-01 (April)
The authors study the joint determination of optimal sovereign default and devaluation in a small open economy with low enforcement of debt contracts and downward nominal wage rigidity.

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