financial burden of accumulated public debt. Endowing instead the central bank with an explicit inflation target lowers long …

Breaches in intercreditor equity are common ground during sovereign debt restructurings. In this paper I explore … residence-based breaches by studying patterns of discrimination between residents and foreign creditors during debt … of its domestic and its external debt. In the model, the basic trade-off facing the authorities is to default on external …

Recently there have been a number of recommendations to increase the role of subordinated debt (SND) in satisfying bank …

debt securities at various seniority levels to investors. In theory, the transaction relies crucially on the assumption … and create a plethora of asset-backed securities (ABS) that do not completely remove the risks of owning the assets.In my … effects associated with securitization.In light of the ongoing debt on the future of financial intermediation in general and …

The document deals with the accounting for asset backed securities under International Financial Reporting Standards … special purpose entity. To finance the purchase price, the special purpose entity issues commercial papers or similar debt … instruments to outside investors. What makes asset backed securities transactions an interesting issue from an accounting …