Showing 1 - 10 of 24
This paper re-examines the stock-flow discrepancies of government debt and deficits and correlation with fiscal transparency. Applying the fully integrated relationship between financial stocks and flows allows for a more refined analysis of the deterministic components that make up the...
Persistent link: https://www.econbiz.de/10011142141
Credibility is the bedrock of any crisis stress test. The use of stress tests to manage systemic risk was introduced by the U.S. authorities in 2009 in the form of the Supervisory Capital Assessment Program. Since then, supervisory authorities in other jurisdictions have also conducted similar...
Persistent link: https://www.econbiz.de/10011142183
In the late 1980s Barbados, Guyana, Jamaica, and Trinidad and Tobago found themselves in severe economic difficulties. Their ensuing economic strategies were all market-based, featured fiscal contraction and trade liberalization, multilateral support loans and, later on, tax and financial sector...
Persistent link: https://www.econbiz.de/10005769224
This paper shows that concerted debt reduction may be welfare-improving even when the investment disincentive effect of a debt overhang is not large enough to place the debtor country on the wrong side of the debt Laffer curve. Whether the appropriate relief scheme involves debt reduction or new...
Persistent link: https://www.econbiz.de/10005604832
This paper models the resource implications of debt relief provided to low-income countries (LICs). Obtaining debt relief does not necessarily lead to individual aid-dependent countries receiving more overall resources from the donor community. Preliminary cross-section estimates suggest that...
Persistent link: https://www.econbiz.de/10005604878
Sizable risk capital from outside may be necessary to accelerate Japan's corporate restructuring to replace the stock …
Persistent link: https://www.econbiz.de/10005605029
restructuring and maximize the returns on government investment. The approaches to recapitalization have varied, with countries …
Persistent link: https://www.econbiz.de/10005605095
relevant to the debate on Sovereign Debt Restructuring. It highlights four components common to most bankruptcy reorganization … restructuring procedure. …
Persistent link: https://www.econbiz.de/10005605204
This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of these two types of debt. We analyze the decisions...
Persistent link: https://www.econbiz.de/10005825629
This paper-consisting of a regional study and seven country studies-reviews the state of domestic public debt markets in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and Panama as at end-2005. Although they account for the lion's share of capital markets, regional...
Persistent link: https://www.econbiz.de/10005825635