Ukraine has fewer than four weeks to strike a deal with its creditors or risk a default that could seriously harm the economic recovery of the war-ravaged country. Two years ago, Ukraine's private ...

Do sovereign ratings provide a reliable indication of prospective sovereign default risk or merely a measure of the expected loss involved? It’s a moot point, but an important one, particularly as ...

Jochen Andritzky’s book demonstrates the importance of analysing CDS prices alongside bond prices in assessing the likelihood of sovereign default and expected recovery values. Felix Salmon examines ...

This paper develops a theory of sovereign debt sustainability driven by the government’s motive for redistribution. It studies a heterogeneous-agent small open economy in which redistribution relies ...