We study the pricing, design, and desirability of sovereign state-contingent debt instruments.
Using a sovereign default model with lenders who fear model misspecification, we find that …

In this paper, I build a flexible theoretical model of sovereign borrowing, default, and
renegotiation with borrower reputation. There is asymmetric information about the …

How reliable are public debt statistics? This paper quantifies the magnitude, characteristics,
and timing of hidden debt by tracking ex-post data revisions across a comprehensive new …

This study focuses on the relationship between reputation resources and debt maturity
structure and finds that enhancing reputation resources can optimize debt maturity structure …

Governments in emerging economies heavily depend on bonds issued in liquid
international capital markets for their overall financing. The behavior of investors in these …

I study the impact of political intervention in monetary policy on inflation. I examine episodes
of political pressure on central banks in emerging markets and find that market inflation …

This paper assesses the sovereign debt management of emerging economies in terms of
constrained Pareto efficiency. I derive a market economy in which a sovereign borrower …

We present new evidence of downward-sloping demand curves in international
sovereigndebt markets and analyze their macroeconomic implications. Our methodology …

This thesis emphasizes the role of lenders in the analysis of sovereign debt crises, whereas
the existing literature on sovereign debt has mostly focused on the borrower's default …

We develop a computable recursive equilibrium for a dynamic game involving two types 6 of
purposeful policymakers–one with commitment capacity and the other without–7 and private …