A Decision Support Approach to Liquidate a Distressed Debt Network
研究复杂债务网络中的清算问题，提出一种算法简化网络并推导清算策略，用十国真实数据验证其在主权债务分析和风险管理中的有效性。
This paper investigates the debt clearing problem in a debt network with complicated debt relations among various debtors. Each pair of debt relations is modeled with both forward debt chain and backward debt chain to simplify the whole debt network with a developed algorithm. A debt clearing strategy is derived and its benefits and managerial implications are shown in risk management. This paper further demonstrates the validation of the approach for sovereign debt analysis and risk analytics using real debt data from ten developed countries.