Working Papers   

Costs of Sovereign Debt Crises: Restructuring Strategies and Bank Intermediation, with Marcos Chamon, Aitor Erce and Akira Sasahara. April 2024, resubmitted to Journal of International Economics.

     - PDF (April 2024)  - NEW

     - LUISS School of European Political Economy WP (May 2021)

    - PDF (February 2020)

    - IMF WP 19/69,

    - ESM WP 2019/37.  


Sovereign Defaults and Public Investment (Capital), with Hyungseok Joo, June 2023, submitted.

   -  University of Surrey WP (June 2023, latest version)

   -  University of Surrey WP (December 2022)

   -  Old Version (with old title) (June 2021)

   -  Old Version (with old title) (August 2020)

   -  UoS WP.


Trade Costs of Sovereign Debt Restructurings: Does a Market-Friendly Approach Improve the Outcome? with Marcos Chamon and Akira Sasahara. November 2016, Submitted,

   -  PDF (new version forthcoming),

   -  PDF (old version),

   -  IMF WP 16/222.


Fiscal Austerity and Sovereign Debt Restructurings, with Hyungseok Joo

   - PDF (forthcoming)


Sovereign Debt Restructuring and Reduction in Debt-to-GDP Ratio, with Sakai Ando, Prachi Mishra, and Alexandre Sollaci, March 2024, submitted. 

    - PDF (March 2024) - NEW

    - PDF (September 2023)


Serial Sovereign Defaults and Debt Restructurings, 2016, submitted,

   - IMF WP 16/66.


Sovereign Defaults, External Debt and Real Exchange Rate Dynamics, 2016, submitted, 

   - IMF WP 16/37.


Is Banks' Home Bias Good or Bad for Debt Sustainability? 2015, submitted, with Said Bakhache and Heiko Hesse,

   - IMF WP 15/44.