Ghosal, Sayantan; Thampanishvong, Kannika - Centre for Dynamic Macroeconomic Analysis, University … - 2007
such problem. In this paper, we develop a model of sovereign debt write-downs, where governance problems reflect domestic ….st-andrews.ac.uk/cdma
CDMA07/10
Optimal Sovereign Debt Write-downs
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Sayantan Ghosal
University of Warwick
Kannika Thampanishvong … current debt relief mechanisms fail
to address such problem. In this paper, we develop a model of sovereign debt
write …