This paper surveys recent economic and legal literature on sovereign debt in light of the COVID-19 shock. Most of the … persistent gap between sovereign debt theories grounded in immunity and empirical evidence that low- and middle-income country … outside the scope of this literature before the euro area debt crisis, have shown themselves to be far more …

cases filed against defaulting sovereigns. We find that creditors are more likely to litigate in large debt restructurings … economies and those with a low legal capacity). We conclude that sovereign debt lawsuits can be predicted reasonably well with a …

government operates close to its scal limit, i.e. the maximum capacity of a country to repay its debt. The presence of the … possible sovereign default leads to dynamics of sovereign debt which cause taxes to rise and increase the dispersion of … resulting tax levels. In line with data for industrialized countries household saving increases at high debt-to-GDP levels and …

We study the sustainability of public debt in a closed production economy where a benevolent government chooses fiscal … policies, including haircuts on its outstanding debt, in a discretionary manner. Government bonds are held by domestic agents … equilibrium where public debt amounts to a sizeable fraction of output in steady state and is nevertheless fully serviced by the …