Safe assets play a critical role in an (y) economy. A safe asset is an asset that is (almost
always) valued at face value without expensive and prolonged analysis. By design, there is …

The European debt crisis has rekindled long-standing debates about the power of finance
and the fraught relationship between capitalism and democracy in a globalized world. Why …

This article reviews recent economic and legal literature on sovereign debt in light of the
COVID-19 shock. Most of the core theoretical contributions across the two disciplines hinge …

A dive into the origins, management, and uses and misuses of sovereign debt through the
ages. Public debts have exploded to levels unprecedented in modern history as …

Modern theories of rational decision-making distinguish between certainty, risk and
uncertainty. When the consequences of action cannot be calculated, decision-makers …

Financial markets play an indispensable role in the management of sovereign debt, that is,
the mechanics of how and from whom governments borrow. This paper suggests a novel …

The literature exploiting historical data generally supports the democratic advantage thesis,
which holds that democracies can sell more bonds on better terms than their authoritarian …

We live in an age of awesome technological potential. From nanotechnology to synthetic
organisms, new technologies stand to revolutionize whole domains of human experience …

Nineteenth-century Brazil's constitutional monarchy credibly committed to repay sovereign
debt, borrowing repeatedly in international and domestic capital markets without default. Yet …

Ever since the financial crisis of 2008, doubts have been raised about the future of
capitalism. In this broad-ranging survey of financial capitalism from antiquity to the present …