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Why did the Great Recession lead to such a slow recovery? I build a model where ...

This paper empirically evaluates four types of costs that may result from an international...

Emerging countries that have defaulted on their debt repayment obligations in the past are more...

In reduced-form pricing models, it is usual to assume a fixed recovery rate to obtain the...

Rejecting a common assumption in the sovereign debt literature, we document that creditor losses...

This paper examines the association between the default risk of foreign bank subsidiaries in...