The Resource Sovereign bond restructuring : collective action clauses and official crisis intervention, Kenneth M. Kletzer

Sovereign bond restructuring : collective action clauses and official crisis intervention, Kenneth M. Kletzer

Label
Sovereign bond restructuring : collective action clauses and official crisis intervention
Title
Sovereign bond restructuring
Title remainder
collective action clauses and official crisis intervention
Statement of responsibility
Kenneth M. Kletzer
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
This paper compares the restructuring of sovereign bonds with and without collective action clauses. One conclusion is that collective action clauses can allow efficient debt renegotiation in a formal model of sovereign debt renegotiation while unanimity rules offer incentives for opportunistic behavior by bondholders that leads to inefficient outcomes. With collective action clauses, the mutual gains from renegotiation can be internalized by bondholders so that the holders of each bond issue have incentives to participate in a collective debt restructuring. The analysis abstracts from transactions costs, and the last conclusion might well be sensitive to renegotiation and coordination costs
Member of
Action
digitized
Cataloging source
OCLCE
Dewey number
332.6323
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.03/134
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/03/134
Label
Sovereign bond restructuring : collective action clauses and official crisis intervention, Kenneth M. Kletzer
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 23-24)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn647198234
Dimensions
unknown
Extent
1 online resource (24 pages)
File format
one file format
Form of item
online
Isbn
9781451900811
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/recordID
.b37170107
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)647198234
  • imf1451900813
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
Processing Feedback ...