MARC Record from Library of Congress

LEADER: 01746cam a22003017a 4500
001 2005617344
003 DLC
005 20100302150624.0
007 cr |||||||||||
008 050413s2004 pau sb f000 0 eng
010 $a 2005617344
040 $aDLC$cDLC$dDLC
050 00 $aHG186.G7
100 1 $aHaldane, Andrew G.
245 10 $aBail out or work out?$h[electronic resource] :$btheoretical considerations/$cby Andrew G Haldane, Gregor Irwin and Victoria Saporta.
260 $aLondon :$bBank of England,$cc2004.
490 1 $aWorking paper,$x1368-5562 ;$vno. 219
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 4/13/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper assesses various crisis resolution proposals using a theoretical model of (liquidity and solvency) crisis. The model suggests that payments standstills and last-resort lending are equally efficient means of dealing with liquidity crises, while coordinated lending through creditor committees is second best. Debt write-downs are preferred to subsidised IMF financing when dealing with solvency crises, because of the negative moral hazard implications of the latter tool. Finally, the model suggests that international bankruptcy court proposals may be superior to existing contractual approaches in securing such write-downs"--Bank of England web site.
700 1 $aIrwin, Gregor,$d1971-
700 1 $aSaporta, Victoria,$d1969-
710 1 $aBank of England.
830 0 $aWorking paper (Bank of England : Online) ;$vno.219.
856 40 $uhttp://www.bankofengland.co.uk/workingpapers/wpabst04.htm