In this paper, we examine the the determinents of the evolution of male hours by years of schooling within the U.S. between the mid-1960s through the late 2000s. We quantify the extent to which changes in wages, changes in female labor supply, changes in the taxes and transfers, changes in the...

We address the question of whether and how a sovereign should reduce its external indebtedness when default is a significant possibility, with a particular focus on whether a sovereign should buy back or dilute existing long-term sovereign bonds. Our main finding is that when reduction of debt...