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Waiting for a haircut? A bargaining perspective on sovereign debt restructuring
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Ghosal, Sayantan , Miller, Marcus and Thampanishvong, Kannika (2019) Waiting for a haircut? A bargaining perspective on sovereign debt restructuring. Oxford Economic Papers, 71 (2). pp. 405-420. doi:10.1093/oep/gpy048
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WRAP-waiting-haircut-bargaining-perspective-debt-restructuring-Ghosal-2018.pdf - Accepted Version Embargoed item. Restricted access to Repository staff only until 28 September 2020. Contact author directly, specifying your specific needs. - Requires a PDF viewer. Download (725Kb) |
Official URL: https://doi.org/10.1093/oep/gpy048
Abstract
Recent investigation of sovereign debt negotiations finds that serious debt restructuring typically involves multi-period delay. We develop an incomplete information bargaining model to account for this, highlighting economic recovery and sustainability considerations as complementary reasons for delay. Evidence relating to settlements, along with the policy implications of our analysis, are discussed.
| Item Type: | Journal Article | |||||||||
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| Subjects: | H Social Sciences > HJ Public Finance | |||||||||
| Divisions: | Faculty of Social Sciences > Economics | |||||||||
| Library of Congress Subject Headings (LCSH): | Debts, Public -- Mathematical models, Economic development | |||||||||
| Journal or Publication Title: | Oxford Economic Papers | |||||||||
| Publisher: | Oxford University Press | |||||||||
| ISSN: | 0030-7653 | |||||||||
| Official Date: | April 2019 | |||||||||
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| Date of first compliant deposit: | 26 July 2018 | |||||||||
| Volume: | 71 | |||||||||
| Number: | 2 | |||||||||
| Page Range: | pp. 405-420 | |||||||||
| DOI: | 10.1093/oep/gpy048 | |||||||||
| Status: | Peer Reviewed | |||||||||
| Publication Status: | Published | |||||||||
| Publisher Statement: | This is a pre-copyedited, author-produced version of an article accepted for publication in Oxford Economic Papers following peer review. The version of record available online at: https://doi.org/10.1093/oep/gpy048 | |||||||||
| Access rights to Published version: | Restricted or Subscription Access | |||||||||
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