Sovereign Default Risk Valuation Implications of Debt Crises and Bond Restructurings /

• Main Author: Andritzky, Jochen (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Berlin, Heidelberg : Springer Berlin Heidelberg, 2006.
• Series: Lecture Notes in Economics and Mathematical Systems, 582
• Subjects: Finance.; Mathematics.; Economics.; Management science.; Macroeconomics.; Public finance.; Economic policy.; Economics, general.; Mathematics, general.; Finance, general.; Macroeconomics/Monetary Economics//Financial Economics.; Public Economics.; Economic Policy.

Past cycles of sovereign lending and default in emerging markets suggest that debt crises will recur at some point. In addressing debt crises it has proven helpful to distinguish between situations of illiquidity and insolvency. Solutions range from a voluntary debt swap to a soft or hard restructur...

Table of Contents:

• Sovereign Lending and Default
• Sovereign Restructuring
• Modeling Sovereign Default Risk
• Empirical Estimations
• Credit Default Swaps
• Conclusion.