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Titlebook: Sovereign Default Risk Valuation; Implications of Debt Jochen Andritzky Book 2006 Springer-Verlag Berlin Heidelberg 2006 Bond Investment.Cr

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书目名称Sovereign Default Risk Valuation
副标题Implications of Debt
编辑Jochen Andritzky
视频video
丛书名称Lecture Notes in Economics and Mathematical Systems
图书封面Titlebook: Sovereign Default Risk Valuation; Implications of Debt Jochen Andritzky Book 2006 Springer-Verlag Berlin Heidelberg 2006 Bond Investment.Cr
描述.Past cycles of sovereign lending and default in emerging markets suggest that debt crises will recur at some point. In addressing debt crises it has proven helpful to distinguish between situations of illiquidity and insolvency. Solutions range from a voluntary debt swap to a soft or hard restructuring. This book shows why investors should reckon with similar credit events in the future...Insights gained from recent restructurings inspire the design of a valuation model for sovereign bonds. Using the distinction between hard and soft restructurings, the model draws parallels to the concepts of face value and market value recovery. An extension into credit default swap markets explains why bond and CDS spreads diverge during distress...This survey of the sovereign bond market provides investors with a useful toolkit for analyzing sovereign bonds and foreseeing trends in the international financial architecture. The result should be a better understanding of debt crises and more deliberate investment decisions..
出版日期Book 2006
关键词Bond Investment; Credit Default Swaps; Credit Risk; Emerging Market; Investment; Sovereign Restructuring;
版次1
doihttps://doi.org/10.1007/978-3-540-37449-7
isbn_softcover978-3-540-37448-0
isbn_ebook978-3-540-37449-7Series ISSN 0075-8442 Series E-ISSN 2196-9957
issn_series 0075-8442
copyrightSpringer-Verlag Berlin Heidelberg 2006
The information of publication is updating

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