Results 241 to 250 of about 20,607 (271)

Joint Default Probabilities and Sovereign Risk

International Interactions, 2007
The assessment of sovereign risk is of crucial importance for international lenders and investors. Many existing sovereign risk approaches are opaque and heavily rely on subjective choices. In general, they lack a theoretical basis. To assess sovereign risk, we use the Merton model in which a loan defaults if the value of a firm's assets falls below ...
Scholtens, Bert, Hameeteman, Daphne
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Democracies and sovereign default

2012
Sovereign defaults are a relatively common feature of (international) financial markets. They highlight the credibility problem in lending to governments: Creditors have no feasible means to enforce repayment of debts. Nevertheless, lending to countries takes place.
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Sovereign credit default swaps

BIS Quarterly Review, 2003
This paper focuses on the sovereign segment of the credit default swap (CDS) market, examining data covering several years of quotes and trades from an important CDS inter-dealer broker. Compared to corporate or bank CDSs, sovereign CDSs are concentrated in fewer names and in contracts with reference assets of relatively short maturity, apparently a ...
Frank Packer, Chamaree Suthiphongchai
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Sovereign sukuk in default

Journal of International Economic Law
Abstract Sovereign governments are increasingly turning to sukuk (sharia-compliant investment certificates) to meet their growing financing needs. However, the potential treatment of sukuk during a sovereign debt default remains a black box. This article addresses that gap through a detailed examination of the terms of recently issued
Ali Hakim, Reza Baqir
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Sovereign Default

2021
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Reputation and sovereign default

2016
This thesis has two central contributions. One is economic; it explains the behavior of sovereign interest rates after a default. The other contribution is principally technical; it defines and provides an accurate closed-form approximation to a common filtering problem.
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Protecting Against Sovereign Defaults

2014
Chapter 2 analyzes the various means used by creditors to mitigate sovereign risk well in advance – that is, when countries issue bonds, sign loan agreements, or are at an early stage of their borrowing cycle. Section 2.1 looks at sovereign bond and loan covenants: it presents the clauses that enable creditors to enforce contracts, secure repayment ...
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Sovereign Defaults: The Price of Haircuts

American Economic Journal: Macroeconomics, 2013
Christoph Trebesch
exaly  

Do Sovereign Defaults Hurt Exporters?

Open Economies Review, 2008
Ugo Panizza
exaly  

Sovereign Defaults, Credit to the Private Sector, and Domestic Credit Market Institutions

Journal of Money, Credit and Banking, 2014
Guido Sandleris
exaly