Debt Maturity and the International Financial Architecture
By Olivier Jeanne. Social Science Research Network, 2004
136 citations recorded by the source corpus.
This paper presents a theory of the maturity of international sovereign debt and derives its implications for the reform of the international financial architecture. It presents a general equilibrium model in which the need to roll over external debt disciplines the policies of debtor countries but makes them vulnerable to unwarranted debt crises owing to bad shocks. The paper presents a welfare analysis of several measures that have been discussed in recent debates, such as the adoption of renegotiation-friendly clauses in debt contracts and the establishment of an international bankruptcy regime for sovereigns.
Subfields: Finance, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/8d05f24a2f6a9cb36121dc06ec29c087100aba5c
How researchers see this paper
The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.
In Finance
In Strategy and Management
Citations in the corpus
- Regulating Capital Flows to Emerging Markets: An Externality View (2018, background): “5See Jeanne (2003); Tirole (2003); Jeanne (2009) for example.”
- From Financial Crash to Debt Crisis (2011, unknown): “(See, also, Jeanne 2009). sources: Reinhart and Rogoff (2008, 2009a) and sources cited therein. by different interest groups can lead to a tragedy-of-the-commons situation in which short-term expenditures are favored at the expense of longer term fiscal sustainability.”