Matches in SemOpenAlex for { <https://semopenalex.org/work/W3125995845> ?p ?o ?g. }
Showing items 1 to 71 of
71
with 100 items per page.
- W3125995845 abstract "This paper studies strategic default on coffee pre-financing agreements. In these common arrangements, mills finance coffee production through loans backed by forward-sales contracts with foreign buyers. We model how strategic default introduces a trade-off between insurance and counterparty risk: relative to indexed contracts, fixed-price contracts insure against price swings but create incentives to default when market conditions change. To test for strategic default, we construct contract-specific measures of unanticipated changes in market conditions by comparing spot prices at maturity with the relevant futures prices at the contracting date. Unanticipated rises in market prices increase defaults on fixed price contracts but not on price-indexed ones. We isolate strategic default by focusing on unanticipated rises at the time of delivery after production decisions are sunk. Estimates suggest that roughly half of the observed defaults are strategic. Strategic defaults are more likely in less valuable relationships which, in turn, tend to sign price-indexed contracts to limit strategic default. A model calibration suggests that strategic default causes 15.8% average losses in output, significant dispersion in the marginal product of capital and sizeable negative externalities on supplying farmers." @default.
- W3125995845 created "2021-02-01" @default.
- W3125995845 creator A5039077565 @default.
- W3125995845 creator A5042337597 @default.
- W3125995845 date "2017-09-01" @default.
- W3125995845 modified "2023-09-27" @default.
- W3125995845 title "Strategic Default in the International Coffee Market" @default.
- W3125995845 hasPublicationYear "2017" @default.
- W3125995845 type Work @default.
- W3125995845 sameAs 3125995845 @default.
- W3125995845 citedByCount "0" @default.
- W3125995845 crossrefType "posted-content" @default.
- W3125995845 hasAuthorship W3125995845A5039077565 @default.
- W3125995845 hasAuthorship W3125995845A5042337597 @default.
- W3125995845 hasConcept C10138342 @default.
- W3125995845 hasConcept C106159729 @default.
- W3125995845 hasConcept C106306483 @default.
- W3125995845 hasConcept C144133560 @default.
- W3125995845 hasConcept C162324750 @default.
- W3125995845 hasConcept C175223733 @default.
- W3125995845 hasConcept C175444787 @default.
- W3125995845 hasConcept C178350159 @default.
- W3125995845 hasConcept C181622380 @default.
- W3125995845 hasConcept C2779312582 @default.
- W3125995845 hasConcept C40410261 @default.
- W3125995845 hasConcept C44750222 @default.
- W3125995845 hasConcept C556758197 @default.
- W3125995845 hasConcept C58202505 @default.
- W3125995845 hasConcept C69637215 @default.
- W3125995845 hasConceptScore W3125995845C10138342 @default.
- W3125995845 hasConceptScore W3125995845C106159729 @default.
- W3125995845 hasConceptScore W3125995845C106306483 @default.
- W3125995845 hasConceptScore W3125995845C144133560 @default.
- W3125995845 hasConceptScore W3125995845C162324750 @default.
- W3125995845 hasConceptScore W3125995845C175223733 @default.
- W3125995845 hasConceptScore W3125995845C175444787 @default.
- W3125995845 hasConceptScore W3125995845C178350159 @default.
- W3125995845 hasConceptScore W3125995845C181622380 @default.
- W3125995845 hasConceptScore W3125995845C2779312582 @default.
- W3125995845 hasConceptScore W3125995845C40410261 @default.
- W3125995845 hasConceptScore W3125995845C44750222 @default.
- W3125995845 hasConceptScore W3125995845C556758197 @default.
- W3125995845 hasConceptScore W3125995845C58202505 @default.
- W3125995845 hasConceptScore W3125995845C69637215 @default.
- W3125995845 hasLocation W31259958451 @default.
- W3125995845 hasOpenAccess W3125995845 @default.
- W3125995845 hasPrimaryLocation W31259958451 @default.
- W3125995845 hasRelatedWork W1557021156 @default.
- W3125995845 hasRelatedWork W1604899850 @default.
- W3125995845 hasRelatedWork W2006059199 @default.
- W3125995845 hasRelatedWork W203074672 @default.
- W3125995845 hasRelatedWork W2058582790 @default.
- W3125995845 hasRelatedWork W2116570094 @default.
- W3125995845 hasRelatedWork W2129595044 @default.
- W3125995845 hasRelatedWork W2130997000 @default.
- W3125995845 hasRelatedWork W2161151898 @default.
- W3125995845 hasRelatedWork W2558988247 @default.
- W3125995845 hasRelatedWork W2945158829 @default.
- W3125995845 hasRelatedWork W3011148299 @default.
- W3125995845 hasRelatedWork W3121227109 @default.
- W3125995845 hasRelatedWork W3122509560 @default.
- W3125995845 hasRelatedWork W3123687456 @default.
- W3125995845 hasRelatedWork W3124179914 @default.
- W3125995845 hasRelatedWork W3125498310 @default.
- W3125995845 hasRelatedWork W3150258033 @default.
- W3125995845 hasRelatedWork W2129325368 @default.
- W3125995845 hasRelatedWork W3125573659 @default.
- W3125995845 isParatext "false" @default.
- W3125995845 isRetracted "false" @default.
- W3125995845 magId "3125995845" @default.
- W3125995845 workType "article" @default.