Advanced economies borrowed substantially during the Covid recession to fund their fiscal policy. The Covid recession differed from the Great Recession in that sovereign debt markets remained calm and spreads barely responded. We study the experience of Greece, the most extreme manifestation of...

Argentina began 2024 with the odd privilege of becoming the country with the highest inflation in the world. Although inflation has once again become a first-order global issue due to the impact on the prices of basic goods of the Covid-19 pandemic and the war in Ukraine, Argentinian inflation...