1 M. Ayhan Kose, Peter S. O. Nagle, Franziska L. Ohnsorge, and Naotaka Sugawara, “Can This Time Be Different? Policy Options in Times of Rising Debt” (Policy Research Working Paper 9178, 香港六合彩资料, Washington, DC, 2020), ; M. Ayhan Kose, Franziska Ohnsorge, Carmen M. Reinhart, and Kenneth S. Rogoff, “The Aftermath of Debt Surges” (Policy Research Working Paper 9771, 香港六合彩资料, Washington, DC, 2021), . 2 Emanuele Baldacci, Luiz de Mello, and Gabriela Inchauste, “Financial Crises, Poverty, and Income Distribution” (IMF Working Paper 02/4, International Monetary Fund, Washington, DC, January 2002), ; Davide Furceri and Aleksandra Zdzienicka, “How Costly Are Debt Crises?” Journal of International Money and Finance 31, no. 4 (2012): 726–42, ; Martin Ravallion and Shaohua Chen, “The Impact of the Global Financial Crisis on the World’s Poorest.” VoxEU (blog), April 30, 2009, . 3 Samba Mbaye, Marialuz Moreno Badia, and Kyungla Chae, “Bailing Out the People? When Private Debt Becomes Public” (IMF Working Paper 18/141, International Monetary Fund, Washington, DC, June 2018), . 4 Juan Farah-Yacoub, Clemens Graf von Luckner, and Carmen M. Reinhart, “The Eternal External Debt Crisis: A Long View” (unpublished manuscript, 香港六合彩资料, Washington, DC, 2021). 5 Tamon Asonuma and Christoph Trebesch, “Sovereign Debt Restructurings: Preemptive or Post-Default,” Journal of the European Economic Association 14, no. 1 (2016): 175–214. . 6 Carmen M. Reinhart and Christoph Trebesch, “Sovereign Debt Relief and Its Aftermath,” Journal of the European Economic Association 14, no. 1 (2016): 215–51, . 7 Carmen M. Reinhart, Vincent Reinhart, and Kenneth S. Rogoff, “Dealing with Debt,” Journal of International Economics 96, supplement 1 (2015): S43–S55, . 8 A collective action clause (CAC) is an article present in a bond contract establishing rules in case of restructuring. If a majority of bondholders agree to a debt restructuring, that agreement becomes legally binding on all bond holders, including those who voted against the restructuring. 9 International Monetary Fund (IMF), “The International Architecture for Resolving Sovereign Debt Involving Private-Sector Creditors: Recent Developments, Challenges, and Reform Options” (IMF Policy Paper 2020/043, IMF, Washington, DC, October 1, 2020), . |