How costly are sovereign debt crises? In this paper we study output losses during sovereign default and debt …

Sovereign debt restructurings can be implemented preemptively - prior to a payment default. We code a comprehensive new … sovereign debt model that incorporates preemptive and post-default renegotiations. The model improves the fit with the data and …

Sovereign debt restructurings can be implemented preemptively - prior to a payment default. We code a comprehensive new … sovereign debt model that incorporates preemptive and post-default renegotiations. The model improves the fit with the data and …

Disorderly debt restructurings can be detrimental for debtor countries and creditors alike. This paper investigates … delays in sovereign debt restructurings using a comprehensive new dataset since 1980. Why are some debt crises settled in …

common feature of sovereign debt markets. The legal developments have strengthened the hands of creditors and raised the cost … models with creditor sanctions and suggest that sovereign debt is becoming more enforceable. We discuss how the threat of … litigation affects debt management, government willingness to pay, and the resolution of debt crises. …

common feature of sovereign debt markets. The legal developments have strengthened the hands of creditors and raised the cost … models with creditor sanctions and suggest that sovereign debt is becoming more enforceable. We discuss how the threat of … litigation affects debt management, government willingness to pay, and the resolution of debt crises. …

Sovereign debt crises are difficult to solve. This paper studies the "holdout problem", meaning the risk that creditors … refuse to participate in a debt restructuring. We document a large variation in holdout rates, based on a comprehensive new …

Sovereign debt crises are difficult to solve. This paper studies the "holdout problem", meaning the risk that creditors … refuse to participate in a debt restructuring. We document a large variation in holdout rates, based on a comprehensive new …