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Undisclosed Debt Sustainability
Alfaro, Laura - 2019
sustainability. Disclosure of nontraditional debt would imply significant welfare gains for the recipient countries but would reduce … its sustainability. We discuss the implications of nontraditional lending on standard assumptions of sovereign debt models …
Persistent link: https://www.econbiz.de/10012861729
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A Decade of Debt
Reinhart, Carmen M. - 2011
recorded since the end of World War II, surpassing the heights reached during the First World War and the Great Depression. At …
Persistent link: https://www.econbiz.de/10013129128
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Resolving Debt Crises : an Historical Perspective
Eichengreen, Barry - 2021
Two general approaches have been offered for dealing with the developing country debt crisis: continued reliance on case-by-case negotiation, versus global plans for fundamentally restructuring the terms of international lending and repayment. Both approaches have precedents in earlier...
Persistent link: https://www.econbiz.de/10013221971
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Debt Restructuring
Friedman, Benjamin M. - 2021
shows how several ways in which the actual world of international lending departs from these conditions give both lenders …
Persistent link: https://www.econbiz.de/10013248231
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Sovereign Debt Restructurings : Panacea or Pangloss?
Bulow, Jeremy; Rogoff, Kenneth - 2021
The most widely proposed LDC debt plans are flawed by their failure to recognize the fundamental differences between corporate and sovereign debt. Consequently, many plans intended to help highly-indebted countries mainly aid their foreign creditors. This paper emphasizes the crucial distinction...
Persistent link: https://www.econbiz.de/10013212596
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This Time is Different Chartbook : Country Histories on Debt, Default, and Financial Crises
Reinhart, Carmen M. - 2010
cycles, banking and sovereign debt crises, hyperinflation, and, for the post World War II period, the reliance on IMF …
Persistent link: https://www.econbiz.de/10013146940
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The Long and the Short of it : Sovereign Debt Crises and Debt Maturity
Fernández, Raquel - 2015
We present a simple model of sovereign debt crises in which a country chooses its optimal mix of short and long-term bonds subject to standard contracting frictions: the country cannot commit to repay its debts nor to a specific path of future debt issues, and contracts cannot be made state...
Persistent link: https://www.econbiz.de/10013031214
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Debt Relief
Arslanalp, Serkan - 2006
OECD countries%u2014a mere one-seventieth (1/70) of the quantity of official development assistance agreed to by world … condition for debt relief to generate economic gains. Since the world's poorest countries do not suffer from debt overhang, debt … relief is unlikely to stimulate their investment and growth. The principal obstacle to investment and growth in the world …
Persistent link: https://www.econbiz.de/10012780225
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Debt Relief and Fiscal Sustainability
Edwards, Sebastian - 2021
In this paper I analyze the relationship between fiscal policy, aggregate public sector debt sustainability, and debt … relief. I develop a methodology to compute the fiscal policy path that is compatible with aggregate debt sustainability in … debt sustainability depends on the availability of concessional loans at subsidized interest rates. The working of the …
Persistent link: https://www.econbiz.de/10013224851
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Sovereign Debt Standstills
Hatchondo, Juan; Martinez, Leonardo; Sosa‐Padilla, César - 2021
As a response to economic crises triggered by COVID-19, sovereign debt standstill proposals emphasize debt payment suspensions without haircuts on the face value of debt obligations. We quantify the effects of standstills using a standard default model. We find that a one-year standstill...
Persistent link: https://www.econbiz.de/10013252290