A Dynamic Model of Buy-Backs

24 Pages Posted: 15 Feb 2006

See all articles by Steven Symansky

Steven Symansky

International Monetary Fund (IMF) - Fiscal Affairs Department

Ralph W. Tryon

Government of the United States of America - Division of International Finance (IFDP)

Date Written: July 12, 1989

Abstract

A dynamic framework is utilized to evaluate buy-backs of a country`s external debt. The model solves for the price of debt on the basis of expectations concerning the debtor`s ability to pay, and upon a variety of assumptions concerning changes in property rights consistent with various debt reduction programs. The importance of these assumptions is illustrated in simulations that relate debt reduction to a conventional balance of payments projection.

JEL Classification: 433, 440

Suggested Citation

Symansky, Steven and Tryon, Ralph, A Dynamic Model of Buy-Backs (July 12, 1989). IMF Working Paper No. 89/56, Available at SSRN: https://ssrn.com/abstract=884856

Steven Symansky

International Monetary Fund (IMF) - Fiscal Affairs Department ( email )

700 19th Street, NW
Washington, DC 20431
United States

Ralph Tryon

Government of the United States of America - Division of International Finance (IFDP) ( email )

Stop 24
Washington, DC 20551
United States
202-452-2368 (Phone)
202-736-5638 (Fax)

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