Sovereign Cocos /

Sovereign Cocos /

We study a model of equilibrium sovereign default in which the government issues cocos (contingent convertible bonds) that stipulate a suspension of debt payments when the government faces liquidity shocks in the form of an increase of the bondholders' risk aversion. We find that in spite of re...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי:	Hatchondo, Juan Carlos
מחברים אחרים:	Martinez, Leonardo, Onder, Kursat, Roch, Francisco
פורמט:	כתב-עת
שפה:	English
יצא לאור:	Washington, D.C. : International Monetary Fund, 2022.
סדרה:	IMF Working Papers; Working Paper ; No. 2022/078
נושאים:	Current Account Adjustment Default Risk International Lending and Debt Problems Short-Term Capital Movements Sovereign Cocos
גישה מקוונת:	Full text available on IMF

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