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A Delicate Equilibrium Debt Relief and Default Penalties in an International Context

Debt relief and penalties are discussed in connection with sovereign-country loans. We focus on conditions for the existence of penalties that are too low for ensuring Pareto efficiency, and show the possible time inconsistency of optimal debt contracts. A methodology for ascertaining debt relief im...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1989
Series:IMF Working Papers
Subjects:
Depository Institutions
Income
Debt Relief
Banks
Finance
Industries: Financial Services
Income Distribution
Banks And Banking
Financial Institutions
Personal Income
Debt Management
Micro Finance Institutions
Debt
Exports And Imports
Aggregate Factor Income Distribution
Mortgages
Asset And Liability Management
International Lending And Debt Problems
International Economics
External Debt
Debts, External
Personal Income, Wealth, And Their Distributions
National Accounts
Sovereign Debt
Loans
Macroeconomics
Banking
Income Inequality
Financial Risk Management
Debt Default
Argentina
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Debt relief and penalties are discussed in connection with sovereign-country loans. We focus on conditions for the existence of penalties that are too low for ensuring Pareto efficiency, and show the possible time inconsistency of optimal debt contracts. A methodology for ascertaining debt relief implicit in international loans is outlined
Physical Description:28 pages
ISBN:9781451926422

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