G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2664
DP2664 Time Consistency When Open Market Operations are the Monetary Policy Instrument: Is There Really a Deflation Bias?
Neil Rankin
发表日期2001-01-30
出版年2001
语种英语
摘要The paper develops the view that the perspective on the HIPC initiative is distorted by the fact that ? contrary to the Brady deal itself ? it lacks all perspective on the ?market value? of the debt which is written down. The appropriate ?market value? is one that takes account of the risk of non-payment: arrears, rescheduling and ?constrained? refinancing of various sorts. Building upon econometric evidence that relies on middle income debtors in the eighties, the paper argues that the initiative is about ten times less generous than face value accounting would suggest.
主题International Macroeconomics
关键词Hipc Debt Aid
URLhttps://cepr.org/publications/dp2664
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531725
推荐引用方式
GB/T 7714
Neil Rankin. DP2664 Time Consistency When Open Market Operations are the Monetary Policy Instrument: Is There Really a Deflation Bias?. 2001.
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