Article ID Journal Published Year Pages File Type
7349668 Economics Letters 2017 12 Pages PDF
Abstract
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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Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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The payment schedule of sovereign debt
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