We document that creditor losses ("haircuts") during sovereign debt restructurings vary across debt maturity. In our …- than long-term debt, independently of the specific haircut measure we use. A standard asset pricing model rationalizes our …

UK debt restructuring is undergoing a period of immense change. Two developments in particular have contributed to this … tools into the armoury of financially distressed companies wishing to restructure their debt. The second is political: the … UK’s exit from the EU has impacted on UK debt restructuring, particularly the use of English restructuring tools …

There have been criticisms of debt sustainability analysis in general, including the IMF's own evaluation of the … usefulness of its debt sustainability methodology (e.g., IMF, 2017). This paper's focus is narrow. On the basis of theoretical … arguments and empirical evidence, it argues that the debt-to-GDP ratio is a poor metric for debt management in low …

This scoping paper outlines credit counselling and debt management structures in the United States and their … United States' credit counselling service evaluation outcomes do help consumers resolve debt problems overall, a stricter … and debt management system application methods. For a more valid analysis and strategy suggestion, a transparent …

Public and private sector balance sheets are an important component to any analysis of debt sustainability. A … paper, we document empirical regularities in the behavior of macroeconomic variables during debt crises, and show how both …