Following Waterloo, managing French public finances represented a daunting task. Defeated France had lost a substantial … part of its population and territory. The country was partially occupied and France was to pay huge amounts as reparations … to the victors. Furthermore, France’s reputation had been tarnished by several defaults on its debt in the preceding …

case of default. …

This article provides a historical overview of the factors leading up to debt crises and the default methods used by … ended up being partial defaults; sovereign debt level became unsustainable when it rose above 60-90 % of GDP; default trough …

This paper presents a theoretical model of strategic default to assess how national and international policymakers … should seek to influence the cost of default and the distribution of bargaining power in the event of a default. We find that …, in the absence of restrictions on the parameter space, deadweight costs of default should be driven to zero. Moreover, if …

find that policy-induced exogenous increases in US rates raise default risk in emerging market economies, as hypothesised … real interest rates and reduce the risk of default dominate the hypothesised relationship. We can only conclude that it …

-specific fiscal shocks. Differences in the cyclicality of fiscal revenues affect the option value of borrowing and resulting default …