Public debt

    Papers & Opinions


    Paper


    Posted on 7 July 2021

    The U.S. government uses its voting power to direct IMF loans to countries where U.S. banks are exposed to sovereign default—a de facto bailout. This effect is stronger in years...

    Paper


    Posted on 2 July 2021

    We examine the response from both local governments and their voters to a sudden increase in public debt burden. We exploit plausibly exogenous variation in the ex post cost of...