Sovereign defaults are bad news for investors and debtor countries, in particular if a default becomes messy and … to exit a default quickly. …

Economic sanctions are a frequent instrument of foreign policy. In a diplomatic conflict, they aim to elicit a change … in the policies of foreign governments by damaging their economy. However, sanctions are not costless for the sending …. We first gauge the impact of the sanctions' regime using a structural gravity framework and quantify the trade losses in …

Using a new, global data base covering the years 1950 to 2015, we study the impact of sanctions on international trade …

How do exporting firms react to sanctions? Specifically, which firms are willing - or capable - to serve the market of … a sanctioned country? We investigate this question for four sanctions episodes drawing on recent econometric advances in … exporting firms. We find that the introduction of new sanctions significantly lowers firm-level probabilities of serving the …

This paper examines the impact of coalitions on the economic costs of the 2012 Iran and 2014 Russia sanctions. By … sanctions potential - the maximum welfare change attainable - when sanctions are scaled vertically, i.e. across sectors up to an … Russia inflicted considerable economic harm, yielding 32 - 37% of the vertical sanctions potential. Our key finding is that …

Sanctions are meant to coerce political adversaries through economic measures. However, evidence for their … effectiveness is scarce. In this paper we assess the impact of sanctions on a democracy - France - by studying the electoral … consequences of the sanctions and countersanctions imposed between Russia and Western countries. Contrary to most of the existing …

In this paper, we use a novel firm level dataset for Germany to investigate the effect of sanctions on export behaviour … and performance of German firms. More specifically, we study the sanctions imposed by the EU against Russia in 2014 in … trade restrictions, we provide further evidence on the indirect effects of sanctions. Analysing the impact on broader …

Economic sanctions are a frequently used tool of foreign policy. Constraining trade flows towards or from the target … country is supposed to coerce its government into changing certain policies. However, sanctions constitute an obstacle to … impact of three recent sanctions regimes using a structural gravity framework and quantify the "lost trade" in a general …