This paper presents a pricing model for secondary market debt designed to assess the market value of various forms of guarantees and the impact of debt reduction on the value of remaining claims. The model is more flexible and realistic than other models. The technique used, option pricing, accounts for the sources and nature of risks on sovereign debt. It is extremely flexible in handling different maturity schedules, differences in seniority, and...
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INFORMATION
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1990/01/31
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Document de travail de recherche sur les politiques
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WPS333
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1
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1
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2010/07/01
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An option - pricing approach to secondary market debt : applied to Mexico
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secondary market price
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