Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/106902 
Autor:innen: 
Erscheinungsjahr: 
2015
Schriftenreihe/Nr.: 
Preprints of the Max Planck Institute for Research on Collective Goods No. 2015/2
Verlag: 
Max Planck Institute for Research on Collective Goods, Bonn
Zusammenfassung: 
This study identifies commonalities between two historical incidents of debt assumption - in the United States in 1791 and in present-day Europe. By comparing the interests and behaviour of key players in these two incidents, we find three major parallels: First, in their strategic interactions, parties both for and against debt mutualisation raise arguments based on notions of fairness and morality. Second, in both historical episodes we find harsh rhetoric levelled against private creditors, who are derided as greedy speculators. Third, bargaining is an essential element of the debt assumption process. Bargaining is directed towards limiting or expanding the scope of debt assumption. Further, bargaining typically leads to some form of conditionality imposed in order to increase the chances of the debts being repaid or to ensure benefits accrue to the parties assuming the debt.
JEL: 
H63
F55
N11
E62
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
355.84 kB





Publikationen in EconStor sind urheberrechtlich geschützt.