This paper examines the costs of recent sovereign defaults using synthetic control methods, a novel econometric technique based on comparative case studies. Evidence on the effects of debt crises is thus presented on a case-by-case basis, uncovering large variations in country-specific...

"Shannon, Wally, and John built their lives around their place of work. Shannon, a white single mother, became the first woman to run the factory's dangerous furnaces at the Rexnord manufacturing plant in Indianapolis and was proud of producing one of the world's top brands of steel bearings....