Sovereign Debt Structure for Crisis Prevention

Sovereign Debt Structure for Crisis Prevention

by Mr. Eduardo Borensztein, Mr. Olivier Jeanne, Mr. Paolo Mauro, Paolo Mauro
     
 

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The debate on government debt in the context of possible reforms of the international financial architecture has thus far focused on crisis resolution. This paper seeks to broaden this debate. It asks how government debt could be structured to pursue other objectives, including crisis prevention, international risk-sharing, and facilitating the adjustment of fiscal… See more details below

Overview

The debate on government debt in the context of possible reforms of the international financial architecture has thus far focused on crisis resolution. This paper seeks to broaden this debate. It asks how government debt could be structured to pursue other objectives, including crisis prevention, international risk-sharing, and facilitating the adjustment of fiscal variables to changes in domestic economic conditions. To that end, the paper considers recently developed analytical approaches to improving sovereign debt structure using existing instruments, and reviews a number of proposals--including the introduction of explicit seniority and GDP-linked instruments--in the sovereign context.

Product Details

ISBN-13:
9781452772530
Publisher:
INTERNATIONAL MONETARY FUND
Publication date:
01/26/2005
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
2 MB

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