Author/Editor: Jeronimo Zettelmeyer, Federico Sturzenegger.

Release Date:July, 2005

This paper estimates bond-by-bond haircuts-realized investor losses-in recent debt restructurings in Russia, Ukraine, Pakistan, Ecuador, Argentina, and Uruguay. We consider both external and more...

Author/Editor: Jose De Gregorio, Federico Sturzenegger.

Release Date:June, 1994

This paper studies the effect of inflation on the operation of financial markets, and shows how the ability of financial intermediaries to distinguish among heterogenous firms is reduced as inflation more...