Author:
Consiglio Andrea,Zenios Stavros A.
Abstract
AbstractDebt restructuring is one of the policy tools available for resolving sovereign debt crises and, while unorthodox, it is not uncommon. We propose a scenario analysis for debt sustainability and integrate it with scenario optimization for risk management in restructuring sovereign debt. The scenario dynamics of debt-to-GDP ratio are used to define a tail risk measure, termed
Subject
General Economics, Econometrics and Finance,Development,Geography, Planning and Development
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