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Voluntary Debt Reduction
			: Incentives and Welfare

Voluntary Debt Reduction : Incentives and Welfare »

Volume/Issue: 1988/84

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 1988

DOI: http://dx.doi.org/10.5089/9781451954326.001

ISBN: 9781451954326

Keywords: debt, debt reduction, creditors, repayment, debt relief

In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt’s face value. Therefore investment depends on the face value of debt. I...

Voluntary Debt Reduction

Voluntary Debt Reduction »

Source: Voluntary Debt Reduction : Incentives and Welfare

Volume/Issue: 1988/84

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 06 September 1988

ISBN: 9781451954326

Keywords: debt, debt reduction, creditors, repayment, debt relief

In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt’s face value. Therefore investment depends on the face value of debt. I...