This paper discusses, in a very general way, a system of IMF insurance against sovereign default that could be offered to private lenders and banking groups. The system could overcome many of the current issues that plague the international private lending market, such as moral hazard on the...

We define two professional sports clubs as rivals if their consistent talent belief is positive. That is, they engage in some degree of talent matching. We then construct a simple two-team Stackelberg model with revenue sharing based on profit maximizing clubs. Clubs will always engage in talent...

This paper assesses the benefits to private lenders from IMF participation and conditionality in rescheduling sovereign debt through the Paris Club. A benefit is defined as an increase in the expected value of rescheduled or new loan contracts via a reduction in the weighted probability of...

This paper argues that multilateral financial institutions (MFIs), such as the International Monetary Fund, play an important informational role in international financial markets. By providing low-cost and high quality information, that is otherwise very costly for private lenders to obtain,...

Chapter 1. On the Rise: Player compensation and multiyear contracts -- Chapter 2. The puzzle of overpaid and underpaid players -- Chapter 3. Contract Options for Buyers and Sellers of Talent -- Chapter 4. Extensions to the put option model -- Chapter 5. Concluding remarks.

This paper explores the effects of official creditor subsidies to private lenders on loan pricing and credit availability. A two-period model is developed which includes a private lender, a sovereign borrower and an official creditor. The presence of credible sovereign collateral is shown to be...

This paper discusses, in a very general way, a system of IMF insurance against sovereign default that could be offered to private lenders and banking groups. The system could overcome many of the current issues that plague the international private lending market, such as moral hazard on the...

We construct a simple 2-period game model to determine the effects of recent National Hockey League rule changes on team incentives to win. The effects differ depending on the relative quality of the contestants and whether the contestants compete in the same conference. The model predicts that...