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dc.contributor.authorWiggers, Andreasen
dc.date.accessioned2009-01-29T15:10:26Z-
dc.date.available2009-01-29T15:10:26Z-
dc.date.issued2002-
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
dc.language.isoengen
dc.publisher|aUniversity of Bonn, Bonn Graduate School of Economics (BGSE) |cBonnen
dc.relation.ispartofseries|aBonn Econ Discussion Papers |x36/2002en
dc.subject.jelG15en
dc.subject.jelG33en
dc.subject.jelF34en
dc.subject.jelH63en
dc.subject.ddc330en
dc.subject.keywordCredit risken
dc.subject.keywordsovereign debten
dc.subject.keywordendogenous defaulten
dc.subject.stwInternationale Anleiheen
dc.subject.stwLänderrisikoen
dc.subject.stwWertpapieranalyseen
dc.subject.stwUmschuldungen
dc.subject.stwSanktionen
dc.subject.stwTheorieen
dc.titleDefault-risky Sovereign Debt-
dc.typeWorking Paperen
dc.identifier.ppn374454620en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bonedp:362002-

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