creditors for a sovereign debt standstill. The proposal builds on the original idea by Whitney Deveboise (1984). Using arguments … jurisdictions would avoid becoming overburdened by a cascade of sovereign debt litigation covering creditors and debtors across the …

Quantitative models of sovereign debt predict that countries should default during deep recessions. However, empirical … research on sovereign debt has found a surprisingly large share of "good times" defaults (i.e., defaults that happen when GDP … results that are closer to the predictions of standard quantitative models of sovereign debt. …

This paper surveys recent economic and legal literature on sovereign debt in light of the COVID-19 shock. Most of the … persistent gap between sovereign debt theories grounded in immunity and empirical evidence that low- and middle-income country …

We document that creditor losses ("haircuts") during sovereign debt restructurings vary across debt maturity. In our …