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A Dynamic Model of Buy-Backs

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  • International Monetary Fund

Abstract

A dynamic framework is utilized to evaluate buy-backs of a country’s external debt. The model solves for the price of debt on the basis of expectations concerning the debtor’s ability to pay, and upon a variety of assumptions concerning changes in property rights consistent with various debt reduction programs. The importance of these assumptions is illustrated in simulations that relate debt reduction to a conventional balance of payments projection.

Suggested Citation

  • International Monetary Fund, 1989. "A Dynamic Model of Buy-Backs," IMF Working Papers 1989/056, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1989/056
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    Keywords

    WP; interest payment; bond;
    All these keywords.

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