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- Title
Bail out or work out? Theoretical considerations.
- Authors
Haldane, Andrew G.; Irwin, Gregor; Saporta, Victoria
- Abstract
Examine various theoretical considerations in the resolution of financial crises through international bailouts. Improvement of the resolution of crises through workouts; Use of creditor committees; Insertion of collective action clauses in debt contracts; Creation of an international bankruptcy court; Assessment of the merits of each proposal within a single model of capital account crisis involving private firms, international creditors and national governments.
- Subjects
FINANCIAL crises; INTERNATIONAL economic assistance; FINANCIAL bailouts; INTERNATIONAL economic relations; PRIVATE sector; INTERNATIONAL finance; INTERNATIONAL financial institutions
- Publication
Bank of England Quarterly Bulletin, 2004, Vol 44, Issue 2, p186
- ISSN
0005-5166
- Publication type
Article