Endogenous Creditor Seniority And External Debt Values

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Endogenous Creditor Seniority and External Debt Values

Author : Mr.Mark R. Stone
Publisher : International Monetary Fund
ISBN 13 : 1451967187
Total Pages : 32 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Endogenous Creditor Seniority and External Debt Values by : Mr.Mark R. Stone

Download or read book Endogenous Creditor Seniority and External Debt Values written by Mr.Mark R. Stone and published by International Monetary Fund. This book was released on 1992-07-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new aggregation scheme used to measure the sources of fiscal financing of indebted countries suggests that there was a fundamental improvement in the seniority of domestic debt at the expense of foreign bank debt during the late 1980s. We argue that this was the revenue maximizing response of governments to internal and external capital flight that drained the domestic financial “tax base” subject to indirect taxation. Empirical analysis indicates that the profile of the sources of fiscal financing influenced external debt values. The econometric analysis also implies that previous studies have neglected an important reason for the decline in loan values from 1985 to 1989: the increase in international interest rates.

ENDOGENOUS CREDITOR SENIORITY AND EXTERNAL DEBT VALUES

Author : Michael Dooley
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (479 download)

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Book Synopsis ENDOGENOUS CREDITOR SENIORITY AND EXTERNAL DEBT VALUES by : Michael Dooley

Download or read book ENDOGENOUS CREDITOR SENIORITY AND EXTERNAL DEBT VALUES written by Michael Dooley and published by . This book was released on 1992 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

IMF Staff papers

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1451947135
Total Pages : 256 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis IMF Staff papers by : International Monetary Fund. Research Dept.

Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1993-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between the degree of wage indexation chosen by private agents and the degree of public debt indexation chosen by the government is examined. It is shown that the government is likely to increase public debt indexation in response to an increase in wage indexation. By contrast, higher public debt indexation has an ambiguous effect on wage indexation. In equilibrium, wage and public debt indexation may be positively or negatively related. This relationship is analyzed in situations where the policymakers can precommit to policies and in those they cannot.

Recent Private Capital Inflows to Developing Countries

Author : Michael Patrick Dooley
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4./5 ( download)

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Book Synopsis Recent Private Capital Inflows to Developing Countries by : Michael Patrick Dooley

Download or read book Recent Private Capital Inflows to Developing Countries written by Michael Patrick Dooley and published by World Bank Publications. This book was released on 1994 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This empirical study finds that while debt reduction and policy reforms in debtor countries have been important determinants of renewed access to international capital markets, changes in international interest rates have been the dominant factor. We calculate the effects of changes in international interest rates for a 'typical' debtor country. We conclude that increases in interest rates associated with business cycle upturn in industrial countries could depress the secondary market prices of existing debt to levels inconsistent with continued capital inflows.

Understanding Interdependence

Author : Peter B. Kenen
Publisher : Princeton University Press
ISBN 13 : 0691231133
Total Pages : 566 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Understanding Interdependence by : Peter B. Kenen

Download or read book Understanding Interdependence written by Peter B. Kenen and published by Princeton University Press. This book was released on 2021-06-08 with total page 566 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing together new papers by some of today's leading figures in international economics and finance, Understanding Interdependence surveys the current state of knowledge on the international monetary system and, by implication, defines the research horizon for the future. Covering topics including the behavior of exchange rates, the choice of exchange-rate regime, current-account adjustment in classical and Keynesian models, the extent and effects of capital mobility, international debt, the stabilization and reform of the formerly planned economies, European monetary union, and international policy coordination, the book underscores the importance of these subjects and identifies lessons for policymakers. The contributors to the volume are Michael Bruno, Ralph C. Bryant, Richard N. Cooper, Michael P. Dooley, Barry Eichengreen, Stanley Fischer, Charles A. E. Goodhart, Peter Hooper, Peter B. Kenen, Paul R. Krugman, Henri Lorie, Jaime Marquez, Ronald I. McKinnon, Michael Mussa, Maurice Obstfeld, John Odling-Smee, Assaf Razin, Dani Rodrik, Mark P. Taylor, and John Williamson.

Handbook of International Economics

Author : G.M. Grossman
Publisher : Elsevier
ISBN 13 : 0080933459
Total Pages : 896 pages
Book Rating : 4.0/5 (89 download)

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Book Synopsis Handbook of International Economics by : G.M. Grossman

Download or read book Handbook of International Economics written by G.M. Grossman and published by Elsevier. This book was released on 1997-10-24 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of International Economics

Handbook of International Economics

Author : Ronald Winthrop Jones
Publisher : Elsevier
ISBN 13 : 0444828648
Total Pages : 896 pages
Book Rating : 4.4/5 (448 download)

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Book Synopsis Handbook of International Economics by : Ronald Winthrop Jones

Download or read book Handbook of International Economics written by Ronald Winthrop Jones and published by Elsevier. This book was released on 1984 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This Handbook adopts a traditional definition of the subject, and focuses primarily on the explanation of international transactions in goods, services, and assets, and on the main domestic effects of those transactions. The first volume deals with the "real side" of international economics. It is concerned with the explanation of trade and factor flows, with their main effects on goods and factor prices, on the allocation of resources and income distribution and on economic welfare, and also with the effects on national policies designed explicitly to influence trade and factor flows. In other words, it deals chiefly with microeconomic issues and methods. The second volume deals with the "monetary side" of the subject. It is concerned with the balance of payments adjustment process under fixed exchange rates, with exchange rate determination under flexible exchange rates, and with the domestic ramifications of these phenomena. Accordingly, it deals mainly with economic issues, although microeconomic methods are frequently utilized, especially in work on expectations, asset markets, and exchange rate behavior."--Publisher's information

The New Wave of Private Capital Inflows

Author : Eduardo Fernandez-Arias
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4./5 ( download)

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Book Synopsis The New Wave of Private Capital Inflows by : Eduardo Fernandez-Arias

Download or read book The New Wave of Private Capital Inflows written by Eduardo Fernandez-Arias and published by World Bank Publications. This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sovereign Risk and Financial Crises

Author : Michael Frenkel
Publisher : Springer Science & Business Media
ISBN 13 : 3662099500
Total Pages : 263 pages
Book Rating : 4.6/5 (62 download)

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Book Synopsis Sovereign Risk and Financial Crises by : Michael Frenkel

Download or read book Sovereign Risk and Financial Crises written by Michael Frenkel and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sovereign risk and financial crises play a key role in current international economic developments, particularly in the case of economic downturns. As the Asian economic crisis in the late 1990s revealed once again, financial crises are the rule rather than the exception in capitalist economies. The event also revealed that international public debt agreements are contingent claims. In a world of increasing economic interdependencies, the issues of financial crises and country defaults are of critical importance. This volume goes to the heart of the academic discussion on sovereign risk and financial crises by centering on quantitative-empirical aspects, evaluating prominent approaches, and by proposing new methods. Part I of the volume identifies key factors and processes that are central in analyzing sovereign risk while Part II focuses on the determinants and effects of financial crises.

Sovereign Assets and Liabilities Management

Author : Mr.D. F. I. Folkerts-Landau
Publisher : International Monetary Fund
ISBN 13 : 9781557756947
Total Pages : 292 pages
Book Rating : 4.7/5 (569 download)

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Book Synopsis Sovereign Assets and Liabilities Management by : Mr.D. F. I. Folkerts-Landau

Download or read book Sovereign Assets and Liabilities Management written by Mr.D. F. I. Folkerts-Landau and published by International Monetary Fund. This book was released on 2000-07-05 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume, edited by David Folkerts-Landau and Marcel Cassard, consists of papers presented at a conference held in Hong Kong SAR that was hosted by the IMF and the Hong Kong Monetary Authority. It focuses on a wide range of issues confronting policymakers in managing their sovereign assets and liabilities in a world of mobile capital and integrated capital markets. Topics include public debt management strategy, central bank reserves management, technical and quantitive aspects of risk management, and credit costs and borrowing capacity in optimizing debt management. The papers draw on experiences of policymakers and private sector participants actively involved in formulating and implementing debt and reserves policy.

Macroeconomics for Developing Countries

Author : Raghbendra Jha
Publisher : Psychology Press
ISBN 13 : 9780415262149
Total Pages : 518 pages
Book Rating : 4.2/5 (621 download)

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Book Synopsis Macroeconomics for Developing Countries by : Raghbendra Jha

Download or read book Macroeconomics for Developing Countries written by Raghbendra Jha and published by Psychology Press. This book was released on 2003 with total page 518 pages. Available in PDF, EPUB and Kindle. Book excerpt: This updated edition develops the themes contained in the first edition, taking into account the changes that have occurred in the global economy since the turn of the millennium.

STAFF PAPERS

Author : MARGARET R. KELLY, IAN S. McDONALD, ROZLYN COLEMAN AND SARA KANE
Publisher :
ISBN 13 :
Total Pages : 510 pages
Book Rating : 4./5 ( download)

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Book Synopsis STAFF PAPERS by : MARGARET R. KELLY, IAN S. McDONALD, ROZLYN COLEMAN AND SARA KANE

Download or read book STAFF PAPERS written by MARGARET R. KELLY, IAN S. McDONALD, ROZLYN COLEMAN AND SARA KANE and published by . This book was released on 1993 with total page 510 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Working Paper Summaries (WP/93/1 - WP/93/54)

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Working Paper Summaries (WP/93/1 - WP/93/54) by : International Monetary Fund

Download or read book Working Paper Summaries (WP/93/1 - WP/93/54) written by International Monetary Fund and published by International Monetary Fund. This book was released on 1993-08 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This compilation of summaries of Working Papers released during January-June 1993 is being issued as a part of the Working Paper series. It is designed to provide the reader with an overview of the research work performed by the staff during the period. Authors of Working Papers are normally staff members of the Fund or consultants, although on occasion outside authors may collaborate with a staff member in writing a paper. The views expressed in the Working Papers or their summaries are, however, those of the authors and should not necessarily be interpreted as representing the views of the Fund. Copies of individual Working Papers and information on subscriptions to the annual series of Working Papers may be obtained from IMF Publication Services, International Monetary Fund, 700 19th Street, Washington, D.C. 20431. Telephone: (202) 623-7430 Telefax: (202) 623-7201

IMF Working Paper

Author :
Publisher :
ISBN 13 :
Total Pages : 490 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis IMF Working Paper by :

Download or read book IMF Working Paper written by and published by . This book was released on 1993 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Working Paper

Author :
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis Working Paper by :

Download or read book Working Paper written by and published by . This book was released on 1993 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Working Paper Series

Author :
Publisher :
ISBN 13 :
Total Pages : 584 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Working Paper Series by :

Download or read book Working Paper Series written by and published by . This book was released on 1994 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Sovereign Debt

Author : Jonathan Eaton
Publisher :
ISBN 13 :
Total Pages : 72 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Sovereign Debt by : Jonathan Eaton

Download or read book Sovereign Debt written by Jonathan Eaton and published by . This book was released on 1995 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: We review the literature on sovereign debt. We organize our survey around three central questions: (1) Why do sovereign debtors ever repay their debts? (2) What burdens, in the form of distortions and inefficiencies, does sovereign debt impose? and (3) How might debt be restructured to reduce these burdens? In grappling with the first question the literature has pointed to, and argued about, the roles of reputation, punishments, rewards and renegotiation. In addressing the second the literature has asked whether sovereign debtors tend to borrow too much or too little, and how debt can distort the domestic economy. Answers to the third question include measures by creditors, by debtors, and by public institutions to reduce debt burdens.