filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re-default …

relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to … myopia, which induces default to be a relevant policy option and provides a rationale to constrain sovereign borrowing. We … close-to-default states. These bailouts can lead to an increase in the mean debt price and a lower default probability that …

Default Swaps (CDS) spread on governments bonds around those dates as an instrument for shocks to policy and institutional …

In this survey, we review the quantitative macroeconomic literature analyzing consumer debt and default. We start by … has by now become the workhorse model of consumer credit and default. We discuss a quantitative version of the model and … use it to decompose the main reasons for default. We also use the model to illustrate how the details of default costs …