Paper: Relación Bono-CDS, Crisis Europea

The Link between Eurozone Sovereign  Debt and CDS Prices Abstract We perform a theoretical and empirical analysis of the relationship between the price of Eurozone sovereign-linked credit default swaps (CDS) and the same sovereign bond markets during the Eurozone debt crisis of 2009-2011. We first present a simple model which establishes the no-arbitrage relationship between...+

Paper: Reestructuración "ordenada" de la Deuda griega

Engineering an Orderly Greek Debt Restructuring Abstract:  For some months now, discussions over how Greece will restructure its debt have been constrained by the requirement that the deal be “voluntary” – implying that Greece would continue debt service to any creditors that choose retain their old bonds rather than tender them in an exchange offer....+