Ghosal, Sayantan; Thampanishvong, Kannika - Centre for Dynamic Macroeconomic Analysis, University … - 2007
payment to be
modi…ed by a vote of a quali…ed majority of bondholders,” (IMF, 2002, p.4).
1
tury London capital market … previous empirical studies
do not account for (endogenous) IMF intervention and compositional ef-
fects in the markets for … to debtor moral hazard are
taken into account.
In this paper, we study the e¤ect of strengthening CACs in an in-
complete …