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Debt Relief and Adjustment Effort in a Multi Period Model

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Author Info
Tengstam, Sven () (Department of Economics, School of Economics and Commercial Law, Göteborg University)

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Abstract

This paper shows that if the period following the granting of debt relief is taken into account, debt relief increases adjustment effort(investment), irrespective of whether there is an initial debt overhang or not.

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File URL: http://hdl.handle.net/2077/2714
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 176.

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Length: 8 pages
Date of creation: 12 Sep 2005
Date of revision:
Publication status: Published in Economics Letters, 2006, pages 127-130.
Handle: RePEc:hhs:gunwpe:0176

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: HIPC; Debt relief; Debt overhang; Investment; Incentives;

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Find related papers by JEL classification:
F34 - International Economics - - International Finance - - - International Lending and Debt Problems
H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment

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