TY  - BOOK
ED  - International Monetary Fund.
TI  - A Delicate Equilibrium: Debt Relief and Default Penalties in an International Context
T2  - IMF Working Papers; Working Paper
SN  - 1451926421 :
SN  - 1018-5941
PY  - 1989///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Debt Contracts
KW  - imf
KW  - Debt Relief
KW  - Equation
KW  - Probability Distribution
KW  - Probability
KW  - Argentina
N2  - Debt relief and penalties are discussed in connection with sovereign-country loans. We focus on conditions for the existence of penalties that are too low for ensuring Pareto efficiency, and show the possible time inconsistency of optimal debt contracts. A methodology for ascertaining debt relief implicit in international loans is outlined
UR  - http://elibrary.imf.org/view/IMF001/14846-9781451926422/14846-9781451926422/14846-9781451926422.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451926422
ER  -