| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2664 |
| 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 |
| URL | https://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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