Are buybacks back? Menu-driven debt-reduction schemes with heterogenous creditors
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Diwan, Ishac & Spiegel, Mark M., 1994. "Are buybacks back? Menu-driven debt reduction schemes with heterogeneous creditors," Journal of Monetary Economics, Elsevier, vol. 34(2), pages 279-293, October.
References listed on IDEAS
- Penati, Alessandro & Protopapadakis, Aris, 1988. "The effect of implicit deposit insurance on banks' portfolio choices with an application to international `overexposure'," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 107-126, January.
- Merton, Robert C., 1977. "An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory," Journal of Banking & Finance, Elsevier, vol. 1(1), pages 3-11, June.
- Jeremy Bulow & Kenneth Rogoff, 1988. "The Buyback Boondoggle," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(2), pages 675-704.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Prokop, Jacek, 2012. "Bargaining over debt rescheduling," MPRA Paper 44315, University Library of Munich, Germany.
- Fernando Broner & Alberto Martin & Jaume Ventura, 2010.
"Sovereign Risk and Secondary Markets,"
American Economic Review, American Economic Association, vol. 100(4), pages 1523-1555, September.
- Fernando Broner & Alberto Martin & Jaume Ventura, 2006. "Sovereign Risk and Secondary Markets," 2006 Meeting Papers 565, Society for Economic Dynamics.
- Jaume Ventura & Alberto Martin & Fernando Broner, 2015. "Sovereign Risk and Secondary Markets," Working Papers 288, Barcelona School of Economics.
- Fernando Broner & Alberto Martin & Jaume Ventura, 2006. "Sovereign Risk and Secondary Markets," NBER Working Papers 12783, National Bureau of Economic Research, Inc.
- Ventura, Jaume & Broner, Fernando & MartÃn, Alberto, 2007. "Sovereign Risk and Secondary Markets," CEPR Discussion Papers 6055, C.E.P.R. Discussion Papers.
- Fernando Broner & Alberto Martín & Jaume Ventura, 2006. "Sovereign Risk and Secondary Markets," Working Papers 306, Barcelona School of Economics.
- Fernando Broner & Alberto Martin & Jaume Ventura, 2006. "Sovereign risk and secondary markets," Economics Working Papers 998, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2009.
- Demirguc-Kunt, Ash & Diwan, Ishac & Spiegel, Mark M., 1997.
"Heterogeneity in bank valuation of LDC debt: Evidence from the 1988 Brazilian debt-reduction program,"
Journal of Monetary Economics, Elsevier, vol. 39(3), pages 535-550, August.
- Demirguc-Kunt, A. & Diwan, I. & Spiegel, M.M., 1993. "Heterogeneity in Bank Valuation of LCD Debt: Evidence from the 1988 Brazilian Debt-Reduction Program," Working Papers 93-33, C.V. Starr Center for Applied Economics, New York University.
- Spiegel, Mark M., 1996.
""Burden sharing" in sovereign debt reduction,"
Journal of Development Economics, Elsevier, vol. 50(2), pages 337-351, August.
- Spiegel, M.M., 1992. ""Burden Sharing" in Sovereign Debt Reduction," Working Papers 92-41, C.V. Starr Center for Applied Economics, New York University.
- Mark M. Spiegel, 1994. "\"Burden sharing\" in sovereign debt reduction," Working Papers in Applied Economic Theory 94-18, Federal Reserve Bank of San Francisco.
- Hayri, Aydin, 2000.
"Debt relief,"
Journal of International Economics, Elsevier, vol. 52(1), pages 137-152, October.
- Hayri, A., 1996. "Debt Relief," The Warwick Economics Research Paper Series (TWERPS) 459, University of Warwick, Department of Economics.
- Hayri, Aydin, 1997. "Debt Relief," CEPR Discussion Papers 1701, C.E.P.R. Discussion Papers.
- Eaton, Jonathan & Fernandez, Raquel, 1995.
"Sovereign debt,"
Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 3, pages 2031-2077,
Elsevier.
- Jonathan Eaton & Raquel Fernandez, 1995. "Sovereign Debt," Boston University - Institute for Economic Development 59, Boston University, Institute for Economic Development.
- Jonathan Eaton & Raquel Fernandez, 1995. "Sovereign Debt," NBER Working Papers 5131, National Bureau of Economic Research, Inc.
- Eaton, J. & Fernandez, R., 1995. "Sovereign Debt," Papers 37, Boston University - Department of Economics.
- Bowe, M. & Dean, J.W., 1997. "Has the Market Solved the Sovereign-Debt Crisis?," Princeton Studies in International Economics 83, International Economics Section, Departement of Economics Princeton University,.
- Mark M. Spiegel, 1996.
"Fixed-premium deposit insurance and international credit crunches,"
Economic Review, Federal Reserve Bank of San Francisco, pages 3-15.
- Mark M. Spiegel, 1994. "Fixed-premium deposit insurance and international credit crunches," Working Papers in Applied Economic Theory 94-19, Federal Reserve Bank of San Francisco.
- Nada Azmy Elberry & Frank Naert & Stijn Goeminne, 2023. "Optimal public debt composition during debt crises: A review of theoretical literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 351-376, April.
- Fernandez-Arias, Eduardo, 1993. "Costs and benefits of debt and debt service reduction," Policy Research Working Paper Series 1169, The World Bank.
- Prokop, Jacek, 1995. "Organized debt buybacks: No cure for free riding?," Journal of Development Economics, Elsevier, vol. 47(2), pages 481-496, August.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Ivilina Popova & Peter H. Ritchken & James B. Thompson, 1995. "The changing role of banks and the changing value of deposit guarantees," Working Papers (Old Series) 9502, Federal Reserve Bank of Cleveland.
- Rym Ayadi & Emrah Arbak & Willem Pieter De Groen, 2012. "Executive Compensation and Risk-taking in European Banking," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 8, Edward Elgar Publishing.
- Elijah Brewer III & Thomas H. Mondschean & Philip Strahan, 1996. "The Role of Monitoring in Reducing the Moral Hazard Problem Associated with Government Guarantees: Evidence from the Life Insurance Industry," Center for Financial Institutions Working Papers 96-15, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Milne, Alistair, 2014.
"Distance to default and the financial crisis,"
Journal of Financial Stability, Elsevier, vol. 12(C), pages 26-36.
- Alistair Milne, 2013. "Distance to Default and the Financial Crisis," Discussion Paper Series 2013_03, Department of Economics, Loughborough University, revised Jun 2013.
- Burnside, Craig & Eichenbaum, Martin & Rebelo, Sergio, 2001.
"Hedging and financial fragility in fixed exchange rate regimes,"
European Economic Review, Elsevier, vol. 45(7), pages 1151-1193.
- Burnside, Craig & Eichenbaum, Martin & Rebelo, Sérgio, 1999. "Hedging and Financial Fragility in Fixed Exchange Rate Regimes," CEPR Discussion Papers 2171, C.E.P.R. Discussion Papers.
- Craig Burnside & Martin Eichenbaum & Sergio Rebelo, 1999. "Hedging and Financial Fragility in Fixed Exchange Rate Regimes," NBER Working Papers 7143, National Bureau of Economic Research, Inc.
- Craig Burnside & Martin S. Eichenbaum & Sergio Rebelo, 1999. "Hedging and financial fragility in fixed exchange rate regimes," Working Paper Series WP-99-11, Federal Reserve Bank of Chicago.
- Christophe Godlewski, 2004. "Modélisation de la Prévision de Défaillance Bancaire Une Application aux Banques des Pays Emergents," Finance 0409026, University Library of Munich, Germany.
- Shekhar Aiyar & Charles W. Calomiris & Tomasz Wieladek, 2015. "How to Strengthen the Regulation of Bank Capital: Theory, Evidence, and A Proposal," Journal of Applied Corporate Finance, Morgan Stanley, vol. 27(1), pages 27-36, March.
- Decamps, Jean-Paul & Rochet, Jean-Charles & Roger, Benoit, 2004.
"The three pillars of Basel II: optimizing the mix,"
Journal of Financial Intermediation, Elsevier, vol. 13(2), pages 132-155, April.
- Décamps, Jean-Paul & Rochet, Jean-Charles & Roger, Benoît, 2003. "The Three Pillars of Basel II, Optimizing the Mix," IDEI Working Papers 179, Institut d'Économie Industrielle (IDEI), Toulouse.
- Pankaj C. Patel & Mike G. Tsionas, 2022. "Learning‐by‐lending and learning‐by‐repaying: A two‐sided learning model for defaults on Small Business Administration loans," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(4), pages 906-919, June.
- Laeven, Luc & Levine, Ross, 2009.
"Bank governance, regulation and risk taking,"
Journal of Financial Economics, Elsevier, vol. 93(2), pages 259-275, August.
- Luc Laeven & Ross Levine, 2008. "Bank Governance, Regulation, and Risk Taking," NBER Working Papers 14113, National Bureau of Economic Research, Inc.
- A. Jorge Padilla & Alejandro Requejo, 1999. "Conflicts of Interest, Employment Decisions, and Debt Restructuring: Evidence from Spanish Firms in Financial Distress," Working Papers wp1999_9910, CEMFI.
- Gao, Jieqiong & Ghosh, Chinmoy, 2024. "The longer-term impact of TARP on banks’ default risk," The Quarterly Review of Economics and Finance, Elsevier, vol. 95(C), pages 346-357.
- Goldberg, Linda & Spiegel, Mark M., 1992.
"Debt write-downs and debt--equity swaps in a two-sector model,"
Journal of International Economics, Elsevier, vol. 33(3-4), pages 267-283, November.
- Goldberg, L. & Spiegel, Mark M., 1989. "Debt Write-Downs And Debt-Equity Swaps In A Two Sector Model," Working Papers 89-19, C.V. Starr Center for Applied Economics, New York University.
- Linda S. Goldberg & Mark Spiegel, 1989. "Debt Write-Downs and Debt-Equity Swaps in the Two Sector Model," NBER Working Papers 3121, National Bureau of Economic Research, Inc.
- Allen N. Berger & Björn Imbierowicz & Christian Rauch, 2016.
"The Roles of Corporate Governance in Bank Failures during the Recent Financial Crisis,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(4), pages 729-770, June.
- Berger, A.N. & Imbierowicz, B. & Rauch, C., 2012. "The Roles of Corporate Governance in Bank Failures during the Recent Financial Crisis," Other publications TiSEM 019d27e7-b609-4a7d-a392-6, Tilburg University, School of Economics and Management.
- Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
- Sule Ozler, 1988. "Commercial Bank Lending to Developing Countries: The Question of Overlending," UCLA Economics Working Papers 500, UCLA Department of Economics.
- Westman, Hanna, 2011. "The impact of management and board ownership on profitability in banks with different strategies," Journal of Banking & Finance, Elsevier, vol. 35(12), pages 3300-3318.
- Mark Aguiar & Satyajit Chatterjee & Harold Cole & Zachary Stangebye, 2022.
"Self-Fulfilling Debt Crises, Revisited,"
Journal of Political Economy, University of Chicago Press, vol. 130(5), pages 1147-1183.
- Mark Aguiar & Satyajit Chatterjee & Harold Cole & Zachary Stangebye, 2017. "Self-Fulfilling Debt Crises, Revisited," NBER Working Papers 23312, National Bureau of Economic Research, Inc.
- Mark Aguiar & Satyajit Chatterjee & Harold L. Cole & Zachary Stangebye, 2020. "Self-Ful?lling Debt Crises, Revisited," PIER Working Paper Archive 20-003, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- Mark Aguiar & Satyajit Chatterjee & Harold Cole & Zachary Stangebye, 2021. "Self-Fulfilling Debt Crises, Revisited," Working Papers 2021-92, Princeton University. Economics Department..
- Mark Aguiar & Satyajit Chatterjee & Harold L. Cole & Zachary Stangebye, 2020. "Self-Fulfilling Debt Crises, Revisited," Working Papers 20-03, Federal Reserve Bank of Philadelphia.
- Beltratti, Andrea & Stulz, René M., 2012.
"The credit crisis around the globe: Why did some banks perform better?,"
Journal of Financial Economics, Elsevier, vol. 105(1), pages 1-17.
- Beltratti, Andrea & Stulz, Rene M., 2010. "The Credit Crisis around the Globe: Why Did Some Banks Perform Better?," Working Paper Series 2010-5, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
- Sofiane Aboura & Emmanuel Lépinette, 2015.
"Do banks satisfy the Modigliani-Miller theorem?,"
Economics Bulletin, AccessEcon, vol. 35(2), pages 924-935.
- Sofiane Aboura & Emmanuel Lépinette, 2015. "Do banks satisfy the Modigliani-Miller theorem?," Post-Print hal-01252895, HAL.
More about this item
Keywords
Banks&Banking Reform; Economic Theory&Research; Financial Intermediation; Financial Crisis Management&Restructuring; Municipal Financial Management;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:675. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.