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Restructuring and Insolvency in Europe : Policy Options in the Implementation of the EU Directive

Garrido, José; DeLong, Chanda; Ras, Ami; Rosha, Anjum - 2022

The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters … restructuring models in Europe. These options reveal different policy approaches to the regulation of restructuring and insolvency …

Persistent link: https://www.econbiz.de/10013306802

The Insolvency Regime for Large Enterprises in Italy : An Economic and Legal Assessment

Belhocine, Nazim - 2018

The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not … least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy's insolvency … folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in …

Persistent link: https://www.econbiz.de/10012909405

Arrears to the IMF - A Ghost of the Past?

Oeking, Anne - 2016

In this paper, we consider incidences of arrears to the IMF, focusing on protracted arrears cases and attempt to identify determinants of their occurrence. We use narrative and formal methods. In addition, we analyze determinants of the duration of arrears. We find that previous arrears,...

Persistent link: https://www.econbiz.de/10012977355

Insolvency and Enforcement Reforms in Italy

Garrido, José - 2016

the efficiency of insolvency and enforcement processes. Traditionally, these processes in Italy have taken very long … explores the recent insolvency and enforcement reforms and the remaining challenges. These reforms introduce important positive …

Persistent link: https://www.econbiz.de/10012977835

Optimal Bank Recovery

Goodhart, Charles - 2016

Banks' living wills involve both recovery and resolution. Since it may not always be clear when recovery plans or actions should be triggered, there is a role for an objective metric to trigger recovery. We outline how such a metric could be constructed meeting criteria of (i) adequate loss...

Persistent link: https://www.econbiz.de/10013002156

Default Premium

Catão, Luis - 2015

We re-assess the view that sovereigns with a history of default are charged only a small and/or short-lived premium on the interest rate warranted by observed fundamentals. Our reassessment uses a metric of such a “default premium” (DP) that is consistent with asymmetric information models...

Persistent link: https://www.econbiz.de/10013016580

Optimal Maturity Structure of Sovereign Debt in Situation of Near Default

Rochon, Céline - 2014

We study the relationship between default and the maturity structure of the debt portfolio of a Sovereign, under uncertainty. The Sovereign faces a trade-off between a future costly default and a high current fiscal effort. This results into a debt crisis in case a large initial issuance of long...

Persistent link: https://www.econbiz.de/10013045943

What Drives Mortgage Default Risk in Europe and the U.S.?

Gross, Marco; Tressel, Thierry; Ding, Xiaodan; Tereanu, … - 2022

We present an analysis of the sensitivity of household mortgage probabilities of default (PDs) and loss given default (LGDs) on unemployment rates, house price growth, interest rates, and other drivers. A structural micro-macro simulation model is used to that end. It is anchored in the balance...

Persistent link: https://www.econbiz.de/10013291773

Flattening the Insolvency Curve : Promoting Corporate Restructuring in Asia and the Pacific in the Post-C19 Recovery

Bauer, A.; Craig, R.; Garrido, José; Kang, Kenneth; … - 2021

frameworks to flatten the insolvency curve, ensuring that adequate financing is available to support corporate restructuring, and …

Persistent link: https://www.econbiz.de/10013243068

Bankruptcy Procedures for Sovereigns : A History of Ideas, 1976-2001

Rogoff, Kenneth; Zettelmeyer, Jeromin - 2021

This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger`s (2001) proposed Sovereign Debt-Restructuring Mechanism, with brief reference to the economics literature...

Persistent link: https://www.econbiz.de/10013317866