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dc.contributor.authorWiggers, Andreasen_US
dc.date.accessioned2009-01-29T15:10:26Z-
dc.date.available2009-01-29T15:10:26Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/22857-
dc.description.abstractNot only corporate but also sovereign debtors, in particular developing countries, may get into financial difficulties. Contrary to corporate issuers, they decide themselves if they continue to fulfill their debt obligations or convert their debt. I analyze the value of a default-risky sovereign bond in a setting in which foreign trade is reduced in case the country does not fulfill its obligations. Comparing the costs of debt service with the value of the punishment via foreign trade, the country voluntarily decides when to reorganize its debt. Knowing this threshold the value of a sovereign coupon-bond can be calculated.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesBonn econ discussion papers 2002,36en_US
dc.subject.jelG15en_US
dc.subject.jelG33en_US
dc.subject.jelF34en_US
dc.subject.jelH63en_US
dc.subject.ddc330en_US
dc.subject.keywordCredit risken_US
dc.subject.keywordsovereign debten_US
dc.subject.keywordendogenous defaulten_US
dc.subject.stwInternationale Anleiheen_US
dc.subject.stwLänderrisikoen_US
dc.subject.stwWertpapieranalyseen_US
dc.subject.stwUmschuldungen_US
dc.subject.stwSanktionen_US
dc.subject.stwTheorieen_US
dc.titleDefault-risky Sovereign Debten_US
dc.typeWorking Paperen_US
dc.identifier.ppn374454620en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Bonn Econ Discussion Papers, Bonn Graduate School of Economics (BGSE), Universität Bonn

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