IMF Working Papers

Subject: Asset and liability management, Bonds, Collective action clauses, Consumption, Debt renegotiation, Financial institutions, Loans, National accounts, Personal income

Keywords: Bonds, Borrower default, Borrower income, Borrower utility, Borrower's consumption, Collective action clauses, Debt renegotiation, International financial architecture, Lender B, Lender B's payoff, Lender exit, Lender surplus, Lender's participation constraint, Loans, Low income, Participation constraint, Personal income, Present value, Risk-neutral lender, Rollover option, Sovereign bond, Sovereign debt, WP