The Payment Schedule of Sovereign Debt
Seon Tae Kim and
Gabriel Mihalache ()
Department of Economics Working Papers from Stony Brook University, Department of Economics
We document cyclical fluctuations in scheduled payments of newly issued sovereign debt. During recessions, scheduled payments become more back-loaded. Our results provide direct evidence on a key parameter governing the functional form of cash flows in the long-term debt literature.
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Journal Article: The payment schedule of sovereign debt (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:nys:sunysb:17-09
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