Sovereign Debts

Volkswirtschaftslehre

Preferred or Not Preferred: Thoughts on Priority Structures of Creditors

Adapting domestic insolvency procedures to sovereign states one must tackle the question whether some form of creditor differentiation, such as...

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Volkswirtschaftslehre

Measuring the Real Debt Burden: Proposing a New Debt Indicator

In order to assess the problem of a debt overhang more appropriately, a new debt indicator is proposed that solves the ambiguity of traditional debt...

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Volkswirtschaftslehre

The Present State of the Discussion on Restructuring Sovereign Debts: Which Specific Sovereign Insolvency Procedure?

The paper discusses the four proposals presently on the table: Collective Action Clauses, a voluntary Code of Good Conduct for debt re-negotiation,...

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Volkswirtschaftslehre

Looking a Gift Horse in the Mouth

Analysing Donors' Aid Statistics

Claiming that its definition of Official Development Assistance (ODA) has remained unchanged, the OECD concedes changes in interpretation...

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Volkswirtschaftslehre

The Final Demise of Unfair Debtor Discrimination?

Comments on Ms Krueger's Speeches

Krueger’s proposal to "mimick" domestic insolvency laws marked the abrupt end of the IMF’s fierce opposition against sovereign insolvency. It was...

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