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Strategic investment in a debt bargaining framework
Aizenman, Joshua; Borensztein, Eduardo - 1989
Persistent link: https://www.econbiz.de/10000772339
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Strategic Investment in a Debt Bargaining Framework
Aizenman, Joshua - 2008
, if the debtor country is unable to meet debt obligations, a bargaining regime determines the amount of debt repayment. In … the bargaining game will therefore be dependent (among other things) on the level of production in the debtor country. In … this framework, the paper shows that productive investment may increase or decrease the bargaining power of the debtor …
Persistent link: https://www.econbiz.de/10012774533
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Strategic Investment in a Debt Bargaining Framework
Aizenman, Joshua - 1989
, if the debtor country is unable to meet debt obligations, a bargaining regime determines the amount of debt repayment. In … the bargaining game will therefore be dependent (among other things) on the level of production in the debtor country. In … this framework, the paper shows that productive investment may increase or decrease the bargaining power of the debtor …
Persistent link: https://www.econbiz.de/10012476029
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Openness, relative prices, and macro-policies
Aizenman, Joshua - In: Journal of international money and finance 4 (1985) 1, pp. 5-17
Persistent link: https://www.econbiz.de/10001817505
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Strategic investment in a debt-bargaining framework
Aizenman, Joshua - In: The journal of international trade & economic development 2 (1993) 1, pp. 43-63
Persistent link: https://www.econbiz.de/10001144434
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Economic growth with constraints on tax revenues and public debt: Implications for fiscal policy and cross-country differences
Aizenman, Joshua; Kletzer, Kenneth; Pinto, Brian - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10010322715
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Signaling credibility - choosing optimal debt and international reserves
Aizenman, Joshua; Fernández-Ruiz, Jorge - 2006
This paper evaluates the challenges facing developing countries when there is uncertainty about the policy maker type. We consider a country characterized by volatile output, inelastic demand for fiscal outlays, high tax collection costs, and sovereign risk, where future output depends on the...
Persistent link: https://www.econbiz.de/10010322730
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Asset class diversification and delegation of responsibilities between central banks and sovereign wealth funds
Aizenman, Joshua; Glick, Reuven - 2010
This paper presents a model comparing the optimal degree of asset class diversification abroad by a central bank and a sovereign wealth fund. We show that if the central bank manages its foreign asset holdings in order to meet balance of payments needs, particularly in reducing the probability...
Persistent link: https://www.econbiz.de/10010333067
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Relative price levels and current accounts: An exploration
Aizenman, Joshua - 2008
This paper studies the links between current accounts and relative price levels, finding that current account changes are associated with sizable future relative price levels effects. This is done in panel regressions of the Penn effect, adding a lagged current account/GDP and other explanatory...
Persistent link: https://www.econbiz.de/10010285301
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Economic growth with constraints on tax revenues and public debt: Implications for fiscal policy and cross-country differences
Aizenman, Joshua; Kletzer, Kenneth; Pinto, Brian - 2007
This paper evaluates optimal public investment and fiscal policy for countries characterized by limited tax and debt capacities. We study a non stochastic CRS endogenous growth model where public expenditure is an input in the production process, in countries where distortions and limited...
Persistent link: https://www.econbiz.de/10010285326