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...

書誌詳細
第一著者:	Hatchondo, Juan Carlos
その他の著者:	Martinez, Leonardo, Onder, Kursat, Roch, Francisco
フォーマット:	雑誌
言語:	English
出版事項:	Washington, D.C. : International Monetary Fund, 2022.
シリーズ:	IMF Working Papers; Working Paper ; No. 2022/078
主題:	Current Account Adjustment Default Risk International Lending and Debt Problems Short-Term Capital Movements Sovereign Cocos
オンライン･アクセス:	Full text available on IMF

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