A gravity model of sovereign lending: Trade, default, and credit

IMF Staff Papers

Volumn 51, Issue SPEC. ISS., 2004, Pages 50-63

  Rose, Andrew ^a,b   Spiegel, Mark ^c  

^a UNIVERSITY OF CALIFORNIA   (United States)

^b NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^c FEDERAL RESERVE BANK OF SAN FRANCISCO   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 4444278357     PISSN: 10207635     EISSN: None     Source Type: Book Series    
DOI: None     Document Type: Article

References (11)

1. Bulow, Jeremy, and Kenneth Rogoff, 1989a, "A Constant Recontracting Model of Sovereign Debt," Journal of Political Economy, Vol. 97, No. 1, pp. 155-78.
2. Bulow, Jeremy, and Kenneth Rogoff, 1989b, "Sovereign Debt: Is to Forgive to Forget?" American Economic Review, Vol. 79, No. 1, pp. 43-50.
3. Cline, William R., 1987, Mobilizing Bank Lending to Debtor Countries (Washington: Institute for International Economics).
4. Eaton, Jonathan, and Mark Gersovitz, 1981, "Debt with Potential Repudiation: Theoretical and Empirical Analysis," Review of Economic Studies, Vol. 48 (April), pp. 289-309.
5. Glick, Reuven, and Andrew K. Rose, 2002, "Does a Currency Union Affect Trade?" European Economic Review, Vol. 46, No. 6, pp. 1125-51.
6. Kehoe, Timothy J., and David K. Levine, 1993, "Debt-Constrained Asset Markets," Review of Economic Studies, Vol. 60, pp. 865-88.
7. Kletzer, Kenneth M., and Brian D. Wright, 2000, "Sovereign Debt as Intertemporal Barter," American Economic Review, Vol. 90, No. 3, pp. 621-39.
8. Ozler, Sule, 1993, "Have Commercial Banks Ignored History?" American Economic Review, Vol. 83, No. 3, pp. 608-20.
9. Rose, Andrew K., 2002, "One Reason Countries Pay Their Debts: Renegotiation and International Trade," NBER Working Paper 8853 (Cambridge, Massachusetts: National Bureau of Economic Research).
10. Wright, Mark L.J., 2002, "Reputations and Sovereign Debt" (unpublished; Palo Alto, California: Stanford University).
11. Wright, Mark L.J., 2004, "New Empirical Results on Default: A Discussion of 'A Gravity Model of Sovereign Lending: Trade, Default, and Credit'," IMF Staff Papers, Vol. 51 (special issue), pp. 64-74.