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Using an agent-based model, we simulate sovereign default contagion for different monetary policy options in a world where governments have random incomes, different heterogeneous borrowing behaviors and risk aversion levels and where countries can enter into ex-ante agreements to protect themselves against default. Our simulations showed that default contagion can be a very fast and \u201cdestructive\u201d process, and that monetary policy can have a very important role in preventing sovereign defaults through zero interest rate and quantitative easing policies. <\/jats:p>","DOI":"10.1142\/s0219525920500101","type":"journal-article","created":{"date-parts":[[2020,12,18]],"date-time":"2020-12-18T03:38:53Z","timestamp":1608262733000},"page":"2050010","source":"Crossref","is-referenced-by-count":0,"title":["SOVEREIGN DEFAULT CONTAGION AND MONETARY POLICY IN AN AGENT-BASED MODEL"],"prefix":"10.1142","volume":"23","author":[{"given":"JO\u00c3O","family":"SILVESTRE","sequence":"first","affiliation":[{"name":"Research Unit on Complexity and Economics (UECE), Instituto Superior de Economia e Gest\u00e3o, University of Lisbon, Lisbon, Portugal"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"219","published-online":{"date-parts":[[2020,12,16]]},"reference":[{"issue":"1","key":"S0219525920500101BIB001","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1086\/262109","volume":"108","author":"Allen F.","year":"2000","journal-title":"J. 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