business cycle co-movement while credit market integration (debt) has a positive effect. We then construct a model that can …

In an economy in which debt obligations are fixed in nominal terms, but there are otherwise no nominal rigidities, a …

We examine the effects of foreign currency-indexed debt upon inflationary expectations in Brazil and Mexico …. Conjecturing that markets will view increasing overhangs of foreign currency-indexed debt as a commitment technology that fiscally … results are consistent with the notion that increasing the share of dollar indexed debt may also permit some temporary …

Breaches in intercreditor equity are common ground during sovereign debt restructurings. In this paper I explore … residence-based breaches by studying patterns of discrimination between residents and foreign creditors during debt … of its domestic and its external debt. In the model, the basic trade-off facing the authorities is to default on external …

IMF lending during debt crises on the sovereign's optimal maturity structure. Within the model, although IMF assistance is … from the International Monetary Fund. I first present a model of sovereign debt issuance at various maturities featuring … able to catalyse private flows, this provides incentives for government to issue larger amounts of short-term debt, making …