LEADER 06226oam 22014774 450 001 9910788346603321 005 20230721045609.0 010 $a1-4623-0129-0 010 $a1-4527-5108-0 010 $a1-282-84268-4 010 $a9786612842689 010 $a1-4518-7194-5 035 $a(CKB)3170000000055208 035 $a(EBL)1608189 035 $a(SSID)ssj0000943067 035 $a(PQKBManifestationID)11523874 035 $a(PQKBTitleCode)TC0000943067 035 $a(PQKBWorkID)10974709 035 $a(PQKB)10596380 035 $a(OCoLC)469135415 035 $a(MiAaPQ)EBC1608189 035 $a(IMF)WPIEE2009046 035 $a(EXLCZ)993170000000055208 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aSovereign Default, Private Sector Creditors and the IFIs /$fEmine Boz 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a1 online resource (29 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4519-1629-9 320 $aIncludes bibliographical references. 327 $aContents; I. Introduction; II. IMF Lending; A. Institutional Framework; B. Cyclical Properties; III. Model; IV. Quantitative Analysis; A. Solution; B. Calibration and Data; C. Findings; D. Sensitivity Analysis; V. Conclusion; Appendices; References; Tables; 1. Average interest rates; 2. Data Moments: Private Sector Creditor Lending; 3. Data Moments: IMF Lending; 4. Spreads and Use of IMF Credit; 5. Probability of Use of IMF Credit; 6. Parameters; 7. Business Cycle Statistics; 8. IFI Debt During High and Low Spreads; 9. IFI Debt During Booms and Busts; 10. Sensitivity; Figures 330 3 $aThis paper builds a model of a sovereign borrower that has access to credit from private sector creditors and an IFI. Private sector creditors and the IFI offer different debt contracts that are modelled based on the institutional frameworks of these two types of debt. We analyze the decisions of a sovereign on how to allocate its borrowing needs between these two types of creditors, and when to default on its debt to the private sector creditor. The numerical analysis shows that, consistent with the data; the model predicts countercyclical IFI debt along with procyclical commercial debt flows, also matching other features of the data such as frequency of IFI borrowing and mean IFI debt stock. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/046 606 $aGovernment securities 606 $aDebts, External 606 $aExports and Imports$2imf 606 $aFinance: General$2imf 606 $aMacroeconomics$2imf 606 $aMoney and Monetary Policy$2imf 606 $aPublic Finance$2imf 606 $aIndustries: Financial Services$2imf 606 $aInternational Monetary Arrangements and Institutions$2imf 606 $aInternational Lending and Debt Problems$2imf 606 $aInternational Financial Markets$2imf 606 $aFinancing Policy$2imf 606 $aFinancial Risk and Risk Management$2imf 606 $aCapital and Ownership Structure$2imf 606 $aValue of Firms$2imf 606 $aGoodwill$2imf 606 $aDebt$2imf 606 $aDebt Management$2imf 606 $aSovereign Debt$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aMonetary Policy, Central Banking, and the Supply of Money and Credit: General$2imf 606 $aFinancial Institutions and Services: General$2imf 606 $aPublic finance & taxation$2imf 606 $aFinance$2imf 606 $aInternational economics$2imf 606 $aMonetary economics$2imf 606 $aPrivate debt$2imf 606 $aPublic debt$2imf 606 $aEmerging and frontier financial markets$2imf 606 $aDebt default$2imf 606 $aCredit$2imf 606 $aMultilateral development institutions$2imf 606 $aFinancial institutions$2imf 606 $aNational accounts$2imf 606 $aFinancial markets$2imf 606 $aExternal debt$2imf 606 $aDebts, Public$2imf 606 $aFinancial services industry$2imf 606 $aDebts, External$2imf 606 $aDevelopment banks$2imf 607 $aThailand$2imf 615 0$aGovernment securities. 615 0$aDebts, External. 615 7$aExports and Imports 615 7$aFinance: General 615 7$aMacroeconomics 615 7$aMoney and Monetary Policy 615 7$aPublic Finance 615 7$aIndustries: Financial Services 615 7$aInternational Monetary Arrangements and Institutions 615 7$aInternational Lending and Debt Problems 615 7$aInternational Financial Markets 615 7$aFinancing Policy 615 7$aFinancial Risk and Risk Management 615 7$aCapital and Ownership Structure 615 7$aValue of Firms 615 7$aGoodwill 615 7$aDebt 615 7$aDebt Management 615 7$aSovereign Debt 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aMonetary Policy, Central Banking, and the Supply of Money and Credit: General 615 7$aFinancial Institutions and Services: General 615 7$aPublic finance & taxation 615 7$aFinance 615 7$aInternational economics 615 7$aMonetary economics 615 7$aPrivate debt 615 7$aPublic debt 615 7$aEmerging and frontier financial markets 615 7$aDebt default 615 7$aCredit 615 7$aMultilateral development institutions 615 7$aFinancial institutions 615 7$aNational accounts 615 7$aFinancial markets 615 7$aExternal debt 615 7$aDebts, Public 615 7$aFinancial services industry 615 7$aDebts, External 615 7$aDevelopment banks 700 $aBoz$b Emine$01493515 801 0$bDcWaIMF 906 $aBOOK 912 $a9910788346603321 996 $aSovereign Default, Private Sector Creditors and the IFIs$93716517 997 $aUNINA LEADER 02098nam 2200481z- 450 001 9910557251403321 005 20211118 035 $a(CKB)5400000000041433 035 $a(oapen)https://directory.doabooks.org/handle/20.500.12854/73911 035 $a(oapen)doab73911 035 $a(EXLCZ)995400000000041433 100 $a20202111d2020 |y 0 101 0 $aeng 135 $aurmn|---annan 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 00$aIBD Management - Novel Targets and Therapeutic Perspectives 210 $cFrontiers Media SA$d2020 215 $a1 online resource (140 p.) 311 08$a2-88963-771-9 330 $aThis eBook is a collection of articles from a Frontiers Research Topic. 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