Download or read book Voluntary Debt Reduction written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-09-06 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt’s face value. Therefore investment depends on the face value of debt. I show that this may lead to a positive or negative association between debt and investment depending on the degree of international capital mobility and attitudes toward risk. There may also exist multiple equilibria; with high and low investment levels. The paper explores the desirability of debt reduction in this environment. First, it characterizes circumstances in which debt reduction is desirable from the collective point of view of the creditors. Second, it formulates the forgiveness decision as a noncooperative game among creditors and explores the scope for debt reduction as an outcome of this game.

Download or read book Voluntary Debt Reduction written by Elhanan Helpman and published by . This book was released on 1988 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt's face value. Therefore investment depends on the face value of debt. I show that this may lead to a positive or negative association between debt and investment depending on the degree of international capital mobility and attitudes toward risk. There may also exist multiple equilibria; with high and low investment levels. The paper explores the desirability of debt reduction in this environment. First, it characterizes circumstances in which debt reduction is desirable from the collective point of view of the creditors. Second, it formulates the forgiveness decision as a noncooperative game among creditors and explores the scope for debt reduction as an outcome of this game.

Download or read book Voluntary Approaches to Debt Relief written by John Williamson and published by Peterson Institute. This book was released on 1989 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book VOLUNTARY DEBT REDUCTION OPERATIONS written by World Bank and published by . This book was released on 1988 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Voluntary Debt Reduction written by and published by . This book was released on 1988 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Illustrative Effects of Voluntary Debt and Debt Service Reduction Operations written by Ruben Lamdany and published by . This book was released on 1989 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the potential effects of voluntary debt and debt service reduction operations supported by multilateral agencies and governments of creditor countries. The paper considers alternative financial structures for these operations : buy-backs, par and discounted debt exchanges and concessional debt restructurings. The note concludes that for relatively small market based operations, the overall benefits to the country under those alternative structures are likely to be very similar. Tax and regulatory benefits as well as the possibility of creating some degree of seniority for exit bonds, could enhance the benefits obtained through debt exchanges relative to buy-backs. Concessional loan restructurings are the most difficult to evaluate, because the outcome hinges on the determinants of the bargaining strength of each side, as well as on the economics of debt reduction.

Download or read book efficient debt reduction written by Jeffrey Sachs and published by World Bank Publications. This book was released on 1989 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debt reduction poses collective action problems that cannot be efficiently handled in the framework of voluntary market-based approaches. Instead we need concerted debt restructuring, based on below-market interest rates -- perhaps linked with credit enhancement by official creditors -- to provide the most direct mechanism for efficient, equitable sharing of losses.

Download or read book Voluntary Debt reduction Operations written by Ruben Lamdany and published by . This book was released on 1988 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Wealth Effects of Voluntary Debt Reduction in Latin America written by Daniel Oks and published by World Bank Publications. This book was released on 1990 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of voluntary debt reduction on private wealth depends on how agents subjectively value external liabilities and on how much they perceive public debt as future discounted taxes.

Download or read book Voluntary Debt Reduction Under Asymmetric Information written by Jorge Fernández Ruiz and published by . This book was released on 1993 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Voluntary Choices in Concerted Deals written by Ishac Diwan and published by World Bank Publications. This book was released on 1990 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: When lenders participate voluntarily in a buyback of debt claims, both the price paid for repurchased claims and the secondary market price of the remaining debt rise-- so all creditors realize a net benefit. In contrast, the menu approach to debt reduction allows the debtor to reduce its debt at cheaper prices.

Download or read book Methhodoligical Issues in Evaluating Debt Reducing Deals written by and published by World Bank Publications. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dealing with the Debt Crisis written by Ishrat Husain and published by World Bank Publications. This book was released on 1989 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: The debt crisis in perspective; Debt management in the late 1980s; Debt reduction and recontracting.

Download or read book Debt Buybacks and Forgiveness in a Model with Voluntary Repudiation written by Peter B. Kenen and published by . This book was released on 1989 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Debt Reduction written by and published by . This book was released on 1989 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Portfolio Effects of Debt equity Swaps and Debt Exchanges with Some Applications to Latin America written by Daniel Oks and published by World Bank Publications. This book was released on 1990 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This model explains why debt- equity swaps tend to raise the steady- state price of sovereign debt in Chile and Brazil and reduce it in Argentina and Mexico.

Download or read book Analytical Issues in Debt written by Mr.Peter Wickham and published by International Monetary Fund. This book was released on 1989-03-15 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, edited by Jacob A. Frenkel, Michael P. Dooley, and Peter Wickham, presents a sample of the work of the IMF and that of world-renowned scholars on the analytical issues surrounding the explosion of countries with debt-servicing difficulties and describes debt initiatives and debt-reduction techniques that hold the best promise for finding a lasting solution to the problems of debtor countries.