Macro Musings with David Beckworth cover image

Bryan Cutsinger and Louis Rouanet on the Politics and Dynamics of Hyperinflation in Revolutionary France

Macro Musings with David Beckworth

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The French Revolution and the ASEANR

In 1797, France defaulted on two-thirds of its debt. But they really resisted the tendency to default. It was its view that it was really bad. You shouldn't do bankruptcy. So like the Americans, the French did prioritize the bondholders over the holders of the ASEANR.

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