A valuation model for LDC debt with endogenous rescheduling (English)

Reschedulings are a device that creditors can use to structure the incentives faced by borrowers such that repudiation is never a rational option. This paper develops a numerical method for valueing the option to reschedule. We are able to reproduce several stylized characteristics of international credit markets. The framework identifies the point at which voluntary lending is cut off. It shows that lenders are willing to lend greater amounts if...

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Author

Gennotte, Gerard;

Sadeq, Sayeed;

Kharas, Homi J.;
Document Date
1985/04/30
Document Type
Departmental Working Paper
Report Number
CPD8559
Volume No
1
Total Volume(s)
1
Country
World,
Region
Other,
Disclosure Date
2017/11/15
Disclosure Status
Disclosed
Doc Name
A valuation model for LDC debt with endogenous rescheduling
Keywords
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Citation

Gennotte, Gerard; Sadeq, Sayeed; Kharas, Homi J..

A valuation model for LDC debt with endogenous rescheduling (English). Country Policy Department discussion paper|no. CPD 1985-59 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/227221492122551904

A valuation model for LDC debt with endogenous rescheduling (English)

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