Public-private partnerships (PPPs) are an increasingly popular organizational form of providing public infrastructure. They can increase e ciency and improve resource allocation, yet pervasive contract renegotiations ...

We study the effects of renegotiation in an infinitely-repeated screening model with long-term contracts. We propose a simple and tractable recursive formulation to study equilibria in which the monopolist's profit is ...

We study the optimal design of trade agreements when governments can renegotiate after the resolution of uncertainty but compensation between them is inefficient. In equilibrium, renegotiation always results in trade ...

This paper examines the problem of renegotiation of infrastructure conces-sions in Latin America using a model of litigation with an application to in-centive contracts. Opportunistic renegotiation is here defined as a ...

It has been known for some time that renegotiations of public-private partnerships (PPPs) are related to the political cycle. For example, in his seminal work on renegotiations Guasch (2004) found that incoming administrations ...

We develop a sovereign default model with endogenous re-entry to financial markets via debt renegotiation. We use this model to evaluate how shocks to risk-free interest rates trigger default episodes through two channels: ...