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Chapter 11 for Countries?

Author

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  • Satyajit Chatterjee

Abstract

Sovereign default risk is rising, yet the system for dealing with it remains flawed. Satyajit Chatterjee explains why it might be time to revive a debt restructuring proposal the international community rejected in 2003.

Suggested Citation

  • Satyajit Chatterjee, 2016. "Chapter 11 for Countries?," Economic Insights, Federal Reserve Bank of Philadelphia, vol. 1(2), pages 7-14, April.
    • Handle: RePEc:fip:fedpei:00005
    as

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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/economic-insights/2016/q2/eiq216_chapter_11.pdf
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    References listed on IDEAS

    as
    1. Carmen M. Reinhart & Kenneth S. Rogoff, 2014. "This Time is Different: A Panoramic View of Eight Centuries of Financial Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 215-268, November.
    2. Andrei Shleifer, 2003. "Will the Sovereign Debt Market Survive?," American Economic Review, American Economic Association, vol. 93(2), pages 85-90, May.
    3. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Preface," MPRA Paper 17451, University Library of Munich, Germany.
    4. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "Varieties of Crises and Their Dates," Introductory Chapters, in: This Time Is Different: Eight Centuries of Financial Folly, Princeton University Press.
    5. Reinhart, Carmen & Rogoff, Kenneth, 2009. "This Time It’s Different: Eight Centuries of Financial Folly-Chapter 1," MPRA Paper 17452, University Library of Munich, Germany.
    6. Burcu Eyigungor, 2013. "Debt dilution: when it is a major problem and how to deal with it," Business Review, Federal Reserve Bank of Philadelphia, issue Q4, pages 1-8.
    7. Becker, Torbjorn & Richards, Anthony & Thaicharoen, Yunyong, 2003. "Bond restructuring and moral hazard: are collective action clauses costly?," Journal of International Economics, Elsevier, vol. 61(1), pages 127-161, October.
    8. Michael Bradley & Mitu Gulati, 2014. "Collective Action Clauses for the Eurozone," Review of Finance, European Finance Association, vol. 18(6), pages 2045-2102.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Chapter 11; Debt; Bankruptcy;
    All these keywords.

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