A dynamic bargaining model of sovereign debt

This paper models a dynamic bargaining game between a highly indebted country and its commercial bank consortium, to analyze the determinants of the resulting re-scheduling agreements and the net transfer of resources over time. The bargaining game is based on the simple paradigm that if no agreemen...

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Bibliographic Details
Main Author: Fernandez-Arias, Eduardo
Corporate Author: Banco Mundial
Format: Book
Published: Washington, D.C. World Bank 1991
Series:Policy, research, and external affairs working papers no. WPS 778
Subjects: