share of foreign currency debt, trigger defaults. In post-default periods, the resulting output costs and loss of market …

Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again … in the future than are non-defaulters even with the same debt-to-GDP ratio. This paper explains this stylized fact within … debt-to-GDP level is weakly increasing with the number of past defaults, consistent with empirical observations. The …

depreciation, originated from a sequence of low tradable goods shocks with the sovereign's large share of foreign currency debt …

Emerging countries that have defaulted on their debt repayment obligations in the past are more likely to default again … in the future than are non-defaulters even with the same debt-to-GDP ratio. This paper explains this stylized fact within … debt-to-GDP level is weakly increasing with the number of past defaults, consistent with empirical observations. The …

share of foreign currency debt, trigger defaults. In post-default periods, the resulting output costs and loss of market …