This article describes how text documents are a major data structure in the era of big data. With the explosive growth of data, the number of documents with multi-labels has increased dramatically. The popular multi-label classification technology, which is usually employed to handle multinomial...

Does fiscal austerity influence sovereign debt spreads in a state-dependent manner? To investigate this, we develop an endogenous sovereign default model that incorporates long-maturity debt, fiscal rules, and investment. We uncover novel insights in the Greek default. First, our model provides...