Beetsma, R., Cukierman, A. and Giuliodori, M. (2007). On the relationship between U.S. defense and non-defense spending during the world wars Economics Letters, 95(3):415--421.
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Affiliated authors
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Publication year2007
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JournalEconomics Letters
The interrelation between currency and debt crises is considered in a model relying on option pricing theory. By capturing uncertainty and time aspects in this stochastic and dynamic framework we analyze parameters that determine the probabilities and dependencies of these crises.