Infrequent but turbulent overt sovereign defaults on domestic creditors are a “forgotten history” in Macroeconomics. We … creditors by balancing distributional incentives v. the social value of debt for self-insurance, liquidity, and risk-sharing. A …. Calibrated to Eurozone data, the model is consistent with key long-run and debt-crisis statistics. Defaults are rare (1.2 percent …

Infrequent but turbulent overt sovereign defaults on domestic creditors are a "forgotten history" in Macroeconomics. We … creditors by balancing distributional incentives v. the social value of debt for self-insurance, liquidity, and risk-sharing. A …. Calibrated to Eurozone data, the model is consistent with key long-run and debt-crisis statistics. Defaults are rare (1.2 percent …

Infrequent but turbulent overt sovereign defaults on domestic creditors are a "forgotten history" in macroeconomics. We … creditors by balancing distributional incentives versus the social value of debt for self-insurance, liquidity, and risk …. Calibrated to Eurozone data, the model is consistent with key long-run and debt-crisis statistics. Defaults are rare (1.2 percent …

creditors in 2012 was a “unique and exceptional” event, never, ever to be repeated in any other Eurozone country. Maybe so. But … creditors of Eurozone countries receiving bailouts (the belated Greek restructuring being the sole exception).This article …The Eurozone official sector has declared that the belated restructuring of Greek bonds held by private sector …