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Sovereign default, private sector creditors and the IFIs /
This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of these two types of debt. We analyze the decisions of a...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
|
| Colección: | IMF working paper ;
WP/09/46. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Boz, Emine, |e author. | |
| 245 | 1 | 0 | |a Sovereign default, private sector creditors and the IFIs / |c prepared by Emine Boz. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2009. | ||
| 300 | |a 1 online resource (27 pages) : |b color illustrations | ||
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| 490 | 1 | |a IMF working paper ; |v WP/09/46 | |
| 500 | |a At head of title: IMF Institute. | ||
| 500 | |a "March 2009." | ||
| 504 | |a Includes bibliographical references (pages 20-21). | ||
| 588 | 0 | |a Print version record. | |
| 520 | |a This paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of these two types of debt. We analyze the decisions of a sovereign on how to allocate its borrowing needs between these two types of creditors, and when to default on its debt to the private sector creditor. The numerical analysis shows that, consistent with the data; the model predicts countercyclical IFI debt along with procyclical commercial debt flows. | ||
| 505 | 0 | |a I. Introduction; II. IMF Lending; A. Institutional Framework; B. Cyclical Properties; III. Model; IV. Quantitative Analysis; A. Solution; B. Calibration and Data; C. Findings; D. Sensitivity Analysis; V. Conclusion; Appendices; References; Tables; 1. Average interest rates; 2. Data Moments: Private Sector Creditor Lending; 3. Data Moments: IMF Lending; 4. Spreads and Use of IMF Credit; 5. Probability of Use of IMF Credit; 6. Parameters; 7. Business Cycle Statistics; 8. IFI Debt During High and Low Spreads; 9. IFI Debt During Booms and Busts; 10. Sensitivity; Figures | |
| 505 | 8 | |a 1. IMF Interest Rates vs U.S. Government Bond Yields2. Commercial Debt Price Schedule, q(d0; d¤0; y); 3. Stationary Bond Distributions for the Simple SOE Model | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Government securities. | |
| 650 | 0 | |a Debts, External. | |
| 650 | 6 | |a Effets publics. | |
| 650 | 6 | |a Dettes extérieures. | |
| 650 | 7 | |a Debts, External |2 fast | |
| 650 | 7 | |a Government securities |2 fast | |
| 710 | 2 | |a International Monetary Fund. | |
| 710 | 2 | |a IMF Institute. | |
| 758 | |i has work: |a Sovereign default, private sector creditors and the IFIs (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGP6RyymxqTjRDMBqtrC8K |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Boz, Emine. |t Sovereign default, private sector creditors and the IFIs. |d [Washington, D.C.] : International Monetary Fund, ©2009 |w (OCoLC)469157660 |
| 830 | 0 | |a IMF working paper ; |v WP/09/46. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608189 |z Texto completo |
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