How Long to Read Sovereign Cocos

How Long Does it Take to Read Sovereign Cocos?

It takes the average reader and 26 minutes to read Sovereign Cocos by Juan Carlos Hatchondo

Assuming a reading speed of 250 words per minute. Learn more

Description

We study a model of equilibrium sovereign default in which the government issues cocos (contingent convertible bonds) that stipulate a suspension of debt payments when the government faces liquidity shocks in the form of an increase of the bondholders' risk aversion. We find that in spite of reducing the frequency of defaults triggered by liquidity shocks, introducing cocos increases the overall default frequency. By mitigating concerns about liquidity, cocos make indebtedness and default risk more attractive for the government. In contrast, cocos that stipulate debt forgiveness when the government faces the shock, achieve larger welfare gains by reducing default risk.

How long is Sovereign Cocos?

Sovereign Cocos by Juan Carlos Hatchondo is 26 pages long, and a total of 6,656 words.

This makes it 9% the length of the average book. It also has 8% more words than the average book.

How Long Does it Take to Read Sovereign Cocos Aloud?

The average oral reading speed is 183 words per minute. This means it takes and 36 minutes to read Sovereign Cocos aloud.

What Reading Level is Sovereign Cocos?

Sovereign Cocos is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Sovereign Cocos?

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