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...
| Համատեղ հեղինակ: | |
|---|---|
| Ձևաչափ: | Ամսագիր |
| Լեզու: | English |
| Հրապարակվել է: |
Washington, D.C. :
International Monetary Fund,
1989.
|
| Շարք: | IMF Working Papers; Working Paper ;
No. 1989/010 |
| Առցանց հասանելիություն: | Full text available on IMF |