The Greek debt restructuring of 2012 stands out in the history of sovereign defaults. It achieved very large debt relief - over 50\% of 2012 GDP - with minimal financial disruption, using a combination of new legal techniques, exceptionally large cash incentives, and official sector pressure on...

This working paper is the first draft of an overview and commentary on the papers to appear in a Macroeconomic Dynamics Special Issue on Measurement with Theory. The included papers in the special issue are part of a larger initiative to promote "measurement with theory" in economics and planned...