In an episode of the “Economics Out Loud” podcast, NES Vice-Rector Maxim Bouev discussed with the podcast editor Philip Sterkin a recently announced default of Russia, which he considers a unique event. Why is the government doing the right thing by trying to pay off its debt? How has the debt structure changed over the course of history? What can be the impact of a default on the economy? GURU shares the main ideas of the episode.
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