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Restructuring sovereign bonds : holdouts, haircuts and the effectiveness of CACs
Fang, Chuck; Schumacher, Julian; Trebesch, Christoph - 2021 - This version: November 2020
Sovereign debt crises are difficult to solve. This paper studies the "holdout problem", meaning the risk that creditors … dataset of 23 bond restructurings with external creditors since 1994. We then study the determinants of holdouts and find that … holdout problem according to our simulations. The results help to inform theory as well as current policy initiatives on …
Persistent link: https://www.econbiz.de/10012405397
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Endogenous growth, skill obsolescence and fiscal multipliers
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021
We analyze the effects of government spending in a New-Keynesian model with search and matching frictions featuring endogenous growth through learning-by-doing and skill loss from long-term unemployment. We show that medium-run and long-run output and unemployment multipliers are much larger...
Persistent link: https://www.econbiz.de/10012518438
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Sovereign Haircuts : 200 Years of Creditor Losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - National Bureau of Economic Research - 2024
sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor …" applicable to future defaults. Poorer countries, first-time debt issuers, and those that borrowed heavily from external creditors …
Persistent link: https://www.econbiz.de/10014576628
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Sovereign debt restructuring and the missing international coordination
Erce, Aitor; Picarelli, Mattia - In: Fiscal policy in a turbulent era : tectonic shifts, (pp. 39-57). 2024
Persistent link: https://www.econbiz.de/10014577806
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Gläubigerbehandlung bei Staateninsolvenzen : bestehende Praxis und mögliche Gruppenaufteilung in einem Resolvenzverfahren
Busch, Roman van den - 2019 - 1. Auflage
Persistent link: https://www.econbiz.de/10012520182
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Sovereign haircuts : 200 years of creditor losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
Persistent link: https://www.econbiz.de/10014581679
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Sovereign haircuts : 200 years of creditor losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor …” applicable to future defaults. Poorer countries, first-time debt issuers, and those that borrowed heavily from external creditors …
Persistent link: https://www.econbiz.de/10014557831
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Optimal dept structure and the number of creditors
Bolton, Patrick; Scharfstein, David - In: New research in corporate finance and banking, (pp. 213-234). 2002
Persistent link: https://www.econbiz.de/10001692292
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Informal creditors and sovereign debt restructuring
Ghosal, Sayantan; Thomas, Dania - In: Indian economic review : official journal of Delhi … 58 (2023), pp. 211-226
Persistent link: https://www.econbiz.de/10014391705
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Endogenous Growth, Skill Obsolescence and Fiscal Multipliers
Lechthaler, Wolfgang; Tesfaselassie, Mewael F. - 2021
We analyze the effects of government spending in a New-Keynesian model with search and matching frictions featuring endogenous growth through learning-by-doing and skill loss from long-term unemployment. We show that medium-run and long-run output and unemployment multipliers are much larger...
Persistent link: https://www.econbiz.de/10013222471