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Serial sovereign defaults and debt restructurings /
Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again in the future than are non-defaulters even with the same external debt-to-GDP ratio. These countries actually have repeated defaults or restructurings in short periods. This paper...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Tustin, CA :
Xist Publishing,
2015.
[Washington, D.C.] : International Monetary Fund, 2016. |
| Colección: | IMF working paper ;
WP/16/66. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Asonuma, Tamon, |e (IMF staff) | |
| 245 | 1 | 0 | |a Serial sovereign defaults and debt restructurings / |c prepared by Tamon Asonuma. |
| 264 | 1 | |a Tustin, CA : |b Xist Publishing, |c 2015. | |
| 264 | 1 | |a [Washington, D.C.] : |b International Monetary Fund, |c 2016. | |
| 264 | 4 | |c Ã2016 | |
| 300 | |a 1 online resource (45 pages) : |b illustrations. | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
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| 490 | 1 | |a IMF Working Paper, |x 1018-5941 ; |v WP/16/66 | |
| 500 | |a "March 2016." | ||
| 500 | |a "Research Department." | ||
| 500 | |a "WP/16/65" on page [one] refers to: Natural disasters and food crises in low-income countries. | ||
| 504 | |a Includes bibliographical references (pages 41-44). | ||
| 520 | |a Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again in the future than are non-defaulters even with the same external debt-to-GDP ratio. These countries actually have repeated defaults or restructurings in short periods. This paper explains these stylized facts within a dynamic stochastic general equilibrium framework by explicitly modeling renegotiations between a defaulting country and its creditors. The quantitative analysis of the model reveals that the equilibrium probability of default for a given debt-to-GDP level is weakly increasing with the number of past defaults. The model also accords with an additional fact: lower recovery rates (high NPV haircuts) are associated with increases in spreads at renegotiation.--Abstract. | ||
| 588 | 0 | |a Online resource; title from pdf title page (IMF.org Web site, viewed March 21, 2016). | |
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Debts, Public |z Developing countries |x Econometric models. | |
| 650 | 0 | |a Debt relief |z Developing countries |x Econometric models. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Public Finance. |2 bisacsh | |
| 650 | 7 | |a Debt relief |x Econometric models. |2 fast |0 (OCoLC)fst00888794 | |
| 650 | 7 | |a Debts, Public |x Econometric models. |2 fast |0 (OCoLC)fst00888859 | |
| 651 | 7 | |a Developing countries. |2 fast |0 (OCoLC)fst01242969 | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. | |
| 776 | 0 | 8 | |i Print Version: |a Asonuma, Tamon. |t Serial Sovereign Defaults and Debt Restructurings. |d Washington, D.C. : International Monetary Fund, 2016 |z 9781513596648 |
| 830 | 0 | |a IMF working paper ; |v WP/16/66. | |
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