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March 31, 2005

Argentina's Most Recent Crisis

Note to self: Back-of-the-envelope calculations suggest that between the start of 1999 and the end of 2001, investors in Argentina bonds were compensated ex ante for only about 36% of their losses. They were much too sanguine about Argentina's prospects until the very end.

Posted by DeLong at March 31, 2005 01:06 PM