TY  - JOUR
TI  - <p class="text">A Model of Russian Government Debt Dynamics</p>
T2  - HSE Economic Journal 
IS  - HSE Economic Journal 
KW  - public debt
KW  - dynamic model
KW  - Russia
KW  - seignorage
KW  - statistical model
AB  - The article considers a stochastic model of government borrowing dynamics that uses the Ricardian tradition of analyzing public debt and seignorage. Substantial analogies are established between the macroeconomic analysis of monetary processes, on the one hand, and the theory of financial options and debt, on the other. The model allows identifying the reasons for the 1998 default on Russian domestic debt based on actual data.
AU  - Alexander Smirnov
UR  - https://ej.hse.ru/en/2000-4-2/26548577.html
PY  - 2000
SP  - 157-183
VL  - 4