Default, settlement, and signalling: lending resumption in a reputational model of sovereign debt

This paper develops a simple model of sovereign debt in which defaulting nations are excluded from capital markets and regain access by making partial repayments. This is consistent with the historical evidence that defaulting countries return to international loan markets soon after a settlement, but after varying periods of exclusion.

MoreLess

Year of publication:	1994
Authors:	Cole, Harold L. ; Dow, James ; English, William B.
Institutions:	Federal Reserve Bank of Minneapolis
Subject:	Debts \| External

freely available

Full text |

More access options

www.minneapolisfed.org

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	Staff Report.
Type of publication:	Book / Working Paper
Notes:	Number 180
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005712336