Sovereign Insurance and Program Design : What is Optimal for the Sovereign? /
The design of the optimal sovereign insurance contract is analyzed when: the sovereign chooses the contract; effort is not contractible; shocks are of uncertain magnitude; the sovereign can save; and the sovereign can default. Under these conditions: i) an ex ante premium leads to higher coverage; i...
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| Format: | Revija |
| Jezik: | English |
| Izdano: |
Washington, D.C. :
International Monetary Fund,
2006.
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| Serija: | IMF Working Papers; Working Paper ;
No. 2006/064 |
| Online dostop: | Full text available on IMF |