Sun, David; Chow, Da-Ching - Volkswirtschaftliche Fakultät, … - 2014
’s current repayment capability reflects its current levels of repayment award, debt forgiveness or default threshold. While … attempting to lower default threshold on, a debtor. Granting more forgiveness is, however, beneficial always. Overall, a strong … problems. Our model of default threshold for sovereign debt is more tractable than existing works in literature, especially in …