| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11710 |
| DP11710 Waiting for a haircut? A bargaining perspective on sovereign debt restructuring | |
| Marcus Miller; Sayantan Ghosal; Kannika Thampanishvong | |
| 发表日期 | 2016-12-14 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Recent investigation of sovereign debt negotiations finds that prompt, market-friendly ‘reprofiling’ often fails to achieve sustainability; but serious debt restructuring typically involves delay. We develop an incomplete information bargaining model to account for this, highlighting economic recovery and sustainability considerations as complementary reasons for delay. Some recent settlements are discussed, along with some policy implications of excessive profiling. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Debt restructuring Delay Growth Sustainability Asymmetric information |
| URL | https://cepr.org/publications/dp11710 |
| 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/540524 |
| 推荐引用方式 GB/T 7714 | Marcus Miller,Sayantan Ghosal,Kannika Thampanishvong. DP11710 Waiting for a haircut? A bargaining perspective on sovereign debt restructuring. 2016. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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