Ghosal, Sayantan (contributor); … - 2009
threshold.
Keywords:Sovereign Debt, Coordination, Moral Hazard, Collective Action Clauses,
Ex Ante, Ex Post, E� ciency.
JEL …) to the �nancial terms of a sovereign
debt restructuring1 . By removing the threat of an individual creditor holdout …,
strengthening CACs away from unanimity, should reduce the cost associated
with protracted sovereign debt restructuring driven by …