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