• Default and interest rate shocks: Renegotiation matters 

      Nicolini, Juan Pablo; Almeida, Victor; Esquivel, Carlos; Kehoe, Timothy Jerome (Universidad Torcuato Di TellaRutgers University, Department of EconomicsUniversity of Minnesota, 2023)
      We develop a sovereign default model with endogenous re-entry to financial markets via debt renegotiation. We use this model to evaluate how shocks to risk-free interest rates trigger default episodes through two channels: ...
    • Soveregin Debt Management 

      Levy Yeyati,Eduardo (RedNIE Red Nacional de Investigadores en Economía, 2023)
      This paper reviews debt management strategies in Latin America from a positive and a normative perspective. It discusses the definition of the debt perimeter (what items should be considered to optimize the cost-risk ...