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Sovereign Debt Restructurings: Preemptive Or Post-Default

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Cited by:

  1. Silvia Marchesi & Tania Masi, 2020. "The price of haircuts: private and official default," Development Working Papers 460, Centro Studi Luca d'Agliano, University of Milano, revised 06 Feb 2020.
  2. Valentin Lang & David Mihalyi & Andrea F. Presbitero, 2023. "Borrowing Costs after Sovereign Debt Relief," American Economic Journal: Economic Policy, American Economic Association, vol. 15(2), pages 331-358, May.
  3. Javier Bianchi & Juan Carlos Hatchondo & Leonardo Martinez, 2018. "International Reserves and Rollover Risk," American Economic Review, American Economic Association, vol. 108(9), pages 2629-2670, September.
  4. Aitor Erce, 2012. "Selective sovereign defaults," Globalization Institute Working Papers 127, Federal Reserve Bank of Dallas.
  5. Aitor Erce & Enrico Mallucci & Mattia Picarelli, 2021. "A Journey in the History of Sovereign Defaults on Domestic Law Public Debt," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 2106, Departamento de Economía - Universidad Pública de Navarra.
  6. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2021. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of a Default," Development Working Papers 475, Centro Studi Luca d'Agliano, University of Milano.
  7. Bon, Gatien & Cheng, Gong, 2021. "Understanding China's role in recent debt relief operations: A case study analysis," International Economics, Elsevier, vol. 166(C), pages 23-41.
  8. Silvia Marchesi & Tania Masi & Pietro Bomprezzi, 2024. "Is to Forgive to Forget? Sovereign Risk in the Aftermath of Private or Official Debt Restructurings," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 292-334, March.
  9. Dvorkin, Maximiliano & Sánchez, Juan M. & Sapriza, Horacio & Yurdagul, Emircan, 2022. "Improving sovereign debt restructurings," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
  10. Gatien Bon & Gong Cheng, 2020. "China’s debt relief actions overseas and macroeconomic implications," EconomiX Working Papers 2020-27, University of Paris Nanterre, EconomiX.
  11. Gong Cheng & Javier Diaz-Cassou & Aitor Erce, 2019. "The macroeconomic effects of official debt restructuring: evidence from the Paris Club," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 344-363.
  12. Erce, Aitor & Mallucci, Enrico & Picarelli, Mattia, 2024. "Sovereign Defaults at Home and Abroad," CEPR Discussion Papers 18739, C.E.P.R. Discussion Papers.
  13. Cho, Moonhee & Joo, Hyungseok, 2024. "Sovereign default and FDI transactions: Evidence from Argentina," Economics Letters, Elsevier, vol. 243(C).
  14. Christoph Trebesch, 2019. "Resolving sovereign debt crises: the role of political risk," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 421-444.
  15. Aguiar, M. & Chatterjee, S. & Cole, H. & Stangebye, Z., 2016. "Quantitative Models of Sovereign Debt Crises," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1697-1755, Elsevier.
  16. Lorenzo Esposito & Giuseppe Mastromatteo, 2019. "Defaultnomics: Making Sense of the Barro-Ricardo Equivalence in a Financialized World," Economics Working Paper Archive wp_933, Levy Economics Institute.
  17. Antonio Bassanetti & Carlo Cottarelli & Andrea F Presbitero, 2019. "Lost and found: market access and public debt dynamics," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 445-471.
  18. Josefin Meyer & Carmen M Reinhart & Christoph Trebesch, 2022. "Sovereign Bonds Since Waterloo," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 137(3), pages 1615-1680.
  19. Tamon Asonuma & Marcos Chamon & Aitor Erce & Akira Sasahara, 2019. "Costs of sovereign defaults: Restructuring strategies, bank distress and the capital inflow-credit channel," Working Papers 37, European Stability Mechanism.
  20. Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
  21. Michel Guillard & Hubert Kempf, 2017. "Public Debt Sustainability and Defaults," CESifo Working Paper Series 6554, CESifo.
  22. Georgarakos, Dimitris & Popov, Alexander, 2023. "I (Don't) Owe You: Sovereign Default and Borrowing Behavior," CEPR Discussion Papers 18300, C.E.P.R. Discussion Papers.
  23. Maximiliano Dvorkin & Emircan Yurdagul & Horacio Sapriza & Juan Sanchez, 2018. "Sovereign Debt Restructuring: A Dynamic Discrete Choice Approach," 2018 Meeting Papers 1273, Society for Economic Dynamics.
  24. Kartik Anand & Prasanna Gai, 2019. "Pre-emptive sovereign debt restructuring and holdout litigation," Oxford Economic Papers, Oxford University Press, vol. 71(2), pages 364-381.
  25. Silvia Marchesi, 2016. "Life after default? Private vs. official sovereign debt restructurings," Development Working Papers 398, Centro Studi Luca d'Agliano, University of Milano, revised 26 Aug 2016.
  26. Trebesch, Christoph & Zabel, Michael, 2017. "The output costs of hard and soft sovereign default," European Economic Review, Elsevier, vol. 92(C), pages 416-432.
  27. Graf von Luckner, Clemens M. & Meyer, Josefin & Reinhart, Carmen M. & Trebesch, Christoph, 2024. "Sovereign haircuts: 200 years of creditor losses," Kiel Working Papers 2270, Kiel Institute for the World Economy (IfW Kiel).
  28. Tamon Asonuma & Michael G. Papaioannou & Eriko Togo & Bert van Selm, 2020. "Belize’s 2016–17 Sovereign Debt Restructuring – Third Time Lucky?," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(14), pages 47-67, December.
  29. Asonuma, Tamon & Niepelt, Dirk & Ranciere, Romain, 2023. "Sovereign bond prices, haircuts and maturity," Journal of International Economics, Elsevier, vol. 140(C).
  30. Sebastian Horn & Carmen M. Reinhart & Christoph Trebesch, 2022. "Hidden Defaults," AEA Papers and Proceedings, American Economic Association, vol. 112, pages 531-535, May.
  31. Sunder-Plassmann, Laura, 2020. "Infation, default and sovereign debt: The role of denomination and ownership," Journal of International Economics, Elsevier, vol. 127(C).
  32. Cubeddu, Luis & Ahmed Hannan, Swarnali & Rabanal, Pau, 2023. "External financing risks: How important is the composition of the international investment position?," Journal of International Money and Finance, Elsevier, vol. 131(C).
  33. Chatterjee, Satyajit & Eyigungor, Burcu, 2019. "Endogenous political turnover and fluctuations in sovereign default risk," Journal of International Economics, Elsevier, vol. 117(C), pages 37-50.
  34. Mr. Tamon Asonuma, 2016. "Serial Sovereign Defaults and Debt Restructurings," IMF Working Papers 2016/066, International Monetary Fund.
  35. Marcos Chamon & Erik Klok & Vimal Thakoor & Jeromin Zettelmeyer, 2024. "An Economic Analysis of Debt-for-Climate Swaps," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(2), pages 918-939, June.
  36. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
  37. Di Tommaso, Caterina & Perdichizzi, Salvatore & Vigne, Samuel & Zaghini, Andrea, 2024. "Is the government always greener?," CFS Working Paper Series 718, Center for Financial Studies (CFS).
  38. Lorenzo Forni & Geremia Palomba & Joana Pereira & Christine Richmond, 2021. "Sovereign debt restructuring and growth," Oxford Economic Papers, Oxford University Press, vol. 73(2), pages 671-697.
  39. Maximiliano Dvorkin & Juan M. Sánchez & Horacio Sapriza & Emircan Yurdagul, 2021. "Sovereign Debt Restructurings," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(2), pages 26-77, April.
  40. Mark Wright, 2018. "The Seniority Structure of Sovereign Debt," 2018 Meeting Papers 928, Society for Economic Dynamics.
  41. Frederik Eidam & Friedrich Heinemann, 2019. "Towards more feasible sovereign debt restructurings in the euro area," EconPol Policy Reports 12, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
  42. Elard, Ilaf, 2020. "Three-player sovereign debt negotiations," International Economics, Elsevier, vol. 164(C), pages 217-240.
  43. Farah-Yacoub,Juan P. & Graf Von Luckner,Clemens Mathis Henrik & Ramalho,Rita & Reinhart,Carmen M., 2022. "The Social Costs of Sovereign Default," Policy Research Working Paper Series 10157, The World Bank.
  44. Andrew Powell & Oscar Mauricio Valencia, 2023. "The Bottom Line on Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 13, pages 309-318, Inter-American Development Bank.
  45. Valencia, Oscar & Gamboa-Arbeláez, Juliana & Sánchez, Gustavo, 2023. "Debt Erosion: Asymmetric Response to Demand and Supply Shocks," IDB Publications (Working Papers) 12978, Inter-American Development Bank.
  46. Flavia Corneli, 2024. "Sovereign debt maturity structure and its costs," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 31(1), pages 262-297, February.
  47. Reinhart, Carmen & Trebesch, Christoph, 2014. "A Distant Mirror of Debt, Default, and Relief," CEPR Discussion Papers 10195, C.E.P.R. Discussion Papers.
  48. Marchesi, Silvia & Masi, Tania, 2021. "Life after default. Private and official deals," Journal of International Money and Finance, Elsevier, vol. 113(C).
  49. Carmen M. Reinhart & Christoph Trebesch, 2016. "Sovereign Debt Relief and Its Aftermath," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 215-251.
  50. Tamon Asonuma & Mike Xin Li & Saji Thomas & Michael G. Papaioannou & Eriko Togo, 2018. "Sustainability and Equity Challenges to Pension Systems: The Case of Lebanon," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(10), pages 67-106, December.
  51. Avellán, Leopoldo & Galindo, Arturo J. & Gómez, Tomás & Lotti, Giulia, 2024. "The cyclicality of official bilateral lending: Which cycle do flows follow?," Emerging Markets Review, Elsevier, vol. 59(C).
  52. Carmen M. Reinhart, 2022. "From Health Crisis to Financial Distress," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(1), pages 4-31, March.
  53. Eijffinger, Sylvester C.W. & Karataş, Bilge, 2023. "Three sisters: The interlinkage between sovereign debt, currency, and banking crises," Journal of International Money and Finance, Elsevier, vol. 131(C).
  54. Ṣebnem Kalemli-Özcan & Carmen Reinhart & Kenneth Rogoff, 2016. "Sovereign Debt And Financial Crises: Theory And Historical Evidence," Journal of the European Economic Association, European Economic Association, vol. 14(1), pages 1-6, February.
  55. José A. Carrasco-Gallego, 2020. "Real Estate, Economic Stability and the New Macro-Financial Policies," Sustainability, MDPI, vol. 13(1), pages 1-19, December.
  56. Cheng, Gong & Díaz-Cassou, Javier & Erce, Aitor, 2018. "Official debt restructurings and development," World Development, Elsevier, vol. 111(C), pages 181-195.
  57. Eduardo Borensztein & Eduardo Cavallo, 2023. "Domestic Bond Markets: Successes and Challenges," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 3, pages 37-66, Inter-American Development Bank.
  58. Charles A.E. Goodhart & M. Udara Peiris & Dimitrios P. Tsomocos, 2019. "Debt, recovery rates and the Greek dilemma," Chapters, in: Financial Regulation and Stability, chapter 13, pages 313-326, Edward Elgar Publishing.
  59. Kikkawa, Ayumu Ken & Sasahara, Akira, 2020. "Gains from trade and the sovereign bond market," European Economic Review, Elsevier, vol. 124(C).
  60. Mr. Tamon Asonuma & Gerardo Peraza & Kristine Vitola & Mr. Takahiro Tsuda, 2014. "Sovereign Debt Restructurings in Belize: Achievements and Challenges Ahead," IMF Working Papers 2014/132, International Monetary Fund.
  61. Andreas Müller & Kjetil Storesletten & Fabrizio Zilibotti, 2019. "Sovereign Debt and Structural Reforms," American Economic Review, American Economic Association, vol. 109(12), pages 4220-4259, December.
  62. Salomao, Juliana, 2017. "Sovereign debt renegotiation and credit default swaps," Journal of Monetary Economics, Elsevier, vol. 90(C), pages 50-63.
  63. Mitchener, Kris & Trebesch, Christoph, 2021. "Sovereign Debt in the 21st Century: Looking Backward, Looking Forward," CEPR Discussion Papers 15935, C.E.P.R. Discussion Papers.
  64. María Cecilia Acevedo & Vanessa Alviarez & Joaquin Lennon Sabatini, 2023. "Managing Private Debt," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 11, pages 255-284, Inter-American Development Bank.
  65. van Aarle, Bas & Engwerda, Jacob & Weeren, Arie, 2018. "Effects of debt mutualization in a monetary union with endogenous risk premia: Can Eurobonds contribute to debt stabilization?," Structural Change and Economic Dynamics, Elsevier, vol. 44(C), pages 100-114.
  66. Leonardo Vera, 2017. "In search of stabilization and recovery: macro policy and reforms in Venezuela," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 40(1), pages 9-26, January.
  67. Silvia Marchesi & Tania Masi, 2019. "Sovereign risk after sovereign restructuring. Private and official default," Working Papers 423, University of Milano-Bicocca, Department of Economics, revised Nov 2019.
  68. Prema-chandra Athukorala, 2024. "The Sovereign Debt Crisis in Sri Lanka: Anatomy and Policy Options," Asian Economic Papers, MIT Press, vol. 23(2), pages 1-28, Summer.
  69. Liu, Yang, 2023. "Government debt and risk premia," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 18-34.
  70. Kuvshinov, Dmitry & Zimmermann, Kaspar, 2019. "Sovereigns going bust: Estimating the cost of default," European Economic Review, Elsevier, vol. 119(C), pages 1-21.
  71. Julian Schumacher & Christoph Trebesch & Henrik Enderlein, 2015. "What Explains Sovereign Debt Litigation?," Journal of Law and Economics, University of Chicago Press, vol. 58(3).
  72. Anthony Myrvin & Gregorio Impavido & Mr. Bert van Selm, 2020. "Barbados’ 2018–19 Sovereign Debt Restructuring–A Sea Change?," IMF Working Papers 2020/034, International Monetary Fund.
  73. Daniel, Betty C. & Nam, Jinwook, 2022. "The Greek debt crisis: Excusable vs. strategic default," Journal of International Economics, Elsevier, vol. 138(C).
  74. Calomiris, Charles W. & Tsoulouhas, Theofanis, 2022. "Bailing out conflicted sovereigns," Journal of Financial Intermediation, Elsevier, vol. 51(C).
  75. Ricardo Hausmann & Ugo Panizza & Carmen Reinhart & Douglas Barrios & Clement Brenot & Jesus Daboin Pacheco & Clemens Graf von Luckner & Frank Muci & Lucila Venturi, 2023. "Towards a Sustainable Recovery for Lebanon's Economy," Growth Lab Working Papers 223, Harvard's Growth Lab.
  76. Prein, Timm, 2019. "Persistent Unemployment, Sovereign Debt Crises, and the Impact of Haircuts," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203654, Verein für Socialpolitik / German Economic Association, revised 2019.
  77. Francesca Caselli & Matilde Faralli & Paolo Manasse & Ugo Panizza, 2021. "On the Benefits of Repaying," IMF Working Papers 2021/233, International Monetary Fund.
  78. Marchesi, Silvia & Masi, Tania, 2020. "Sovereign rating after private and official restructuring," Economics Letters, Elsevier, vol. 192(C).
  79. Bai, Ye & Banerji, Sanjay & Wang, Zilong & Zhang, Wenjing, 2024. "Can participation in IMF programs facilitate sovereign debt rescheduling? The role of program size," Journal of International Money and Finance, Elsevier, vol. 144(C).
  80. Silvia Marchesi & Giovanna Marcolongo, 2023. "Knockin' on H(e)aven's door. Financial crises and hidden wealth," Working Papers 518, University of Milano-Bicocca, Department of Economics.
  81. Paolo Mauro & Jing Zhou, 2021. "$$r-g," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 69(1), pages 197-229, March.
  82. Alain Monfort & Fulvio Pegoraro & Jean-Paul Renne & Guillaume Roussellet, 2021. "Affine Modeling of Credit Risk, Pricing of Credit Events, and Contagion," Management Science, INFORMS, vol. 67(6), pages 3674-3693, June.
  83. Mr. Tamon Asonuma & Mr. Marcos d Chamon & Akira Sasahara, 2016. "Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome?," IMF Working Papers 2016/222, International Monetary Fund.
  84. Kris James Mitchener & Christoph Trebesch, 2021. "Sovereign Debt in the 21st Century," NBER Working Papers 28598, National Bureau of Economic Research, Inc.
  85. Buch, Claudia M. & Vogel, Edgar & Weigert, Benjamin, 2018. "Evaluating macroprudential policies," ESRB Working Paper Series 76, European Systemic Risk Board.
  86. Alberto Isgut, 2021. "Addressing sovereign debt challenges in the era of COVID-19 and beyond: the role of the United Nations," Asia-Pacific Sustainable Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 28(2), pages 149-192, December.
  87. Nada Azmy Elberry & Frank Naert & Stijn Goeminne, 2023. "Optimal public debt composition during debt crises: A review of theoretical literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 351-376, April.
  88. Asonuma, Tamon, 2014. "Sovereign defaults, external debt and real exchange rate dynamics," MPRA Paper 55133, University Library of Munich, Germany.
  89. Prema-chandra Athukorala, 2023. "The Sri Lankan economy: Hope, despair and prospects," Departmental Working Papers 2023-10, The Australian National University, Arndt-Corden Department of Economics.
  90. Leopoldo Avellán & Arturo Galindo & Giulia Lotti, 2023. "Official Creditors: Providing More than Money," IDB Publications (Book Chapters), in: Andrew Powell & Oscar Mauricio Valencia (ed.), Dealing with Debt, edition 1, chapter 7, pages 161-182, Inter-American Development Bank.
  91. Tamon Asonuma & Michael G. Papaioannou & Takahiro Tsuda, 2021. "Banking Crisis, Sovereign Debt Restructurings, and Financial Stability Policies in Cyprus During 2012–13," Multinational Finance Journal, Multinational Finance Journal, vol. 25(3-4), pages 163-186, September.
  92. Gita Gopinath & Josefin Meyer & Carmen Reinhart & Christoph Trebesch, 2024. "Sovereign vs. Corporate Debt and Default: More Similar than You Think," Discussion Papers of DIW Berlin 2097, DIW Berlin, German Institute for Economic Research.
  93. Tamon Asonuma & Michael G. Papaioannou & Gerardo Peraza & Kristine Vitola & Takahiro Tsuda, 2017. "Sovereign Debt Restructurings in Belize: Debt Sustainability and Financial Stability Aspects," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(8), pages 5-26, October.
  94. Panizza, Ugo, 2022. "Do Countries Default in Bad Times? The Role of Alternative Detrending Techniques," CEPR Discussion Papers 17216, C.E.P.R. Discussion Papers.
  95. Grey Gordon & Pablo Guerron-Quintana, 2019. "A Quantitative Theory of Hard and Soft Sovereign Defaults," 2019 Meeting Papers 412, Society for Economic Dynamics.
  96. Rachel Yuting Fan & Daniel Lederman & Ha Nguyen & Claudio J. Rojas, 2024. "Calamities, Debt, and Growth in Developing Countries," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 487-507, March.
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