Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor … exchanges in the same default spell, are on the rise. To account for this trend toward serial renegotiation, we introduce the … all record significantly higher haircuts in case of a default. Geopolitical shocks – such as wars, revolutions, or the …