{"id":"https://openalex.org/W1501899111","doi":"https://doi.org/10.1016/j.jmoneco.2018.09.003","title":"The political economy of sovereign defaults","display_name":"The political economy of sovereign defaults","publication_year":2018,"publication_date":"2018-09-07","ids":{"openalex":"https://openalex.org/W1501899111","doi":"https://doi.org/10.1016/j.jmoneco.2018.09.003","mag":"1501899111"},"language":"en","primary_location":{"id":"doi:10.1016/j.jmoneco.2018.09.003","doi":"https://doi.org/10.1016/j.jmoneco.2018.09.003","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jmoneco.2018.09.003","pdf_url":null,"source":{"id":"https://openalex.org/S6711363","display_name":"Journal of Monetary Economics","issn_l":"0304-3932","issn":["0304-3932","1873-1295"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Monetary Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://www.sciencedirect.com/science/article/pii/S0304393218305282","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5001579811","display_name":"Eugenia Andreasen","orcid":"https://orcid.org/0000-0002-7757-0701","observed_orcids":["https://orcid.org/0000-0002-7757-0701"]},"institutions":[{"id":"https://openalex.org/I10457146","display_name":"Universidad de Santiago de Chile","ror":"https://ror.org/02ma57s91","country_code":"CL","type":"education","lineage":["https://openalex.org/I10457146"]}],"countries":["CL"],"is_corresponding":true,"raw_author_name":"Eugenia Andreasen","raw_affiliation_strings":["Universidad de Santiago de Chile, Santiago, Chile"],"raw_orcid":"https://orcid.org/0000-0002-7757-0701","affiliations":[{"raw_affiliation_string":"Universidad de Santiago de Chile, Santiago, Chile","institution_ids":["https://openalex.org/I10457146"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5064448055","display_name":"Guido Sandleris","orcid":"https://orcid.org/0009-0004-8197-6175","observed_orcids":["https://orcid.org/0009-0004-8197-6175"]},"institutions":[{"id":"https://openalex.org/I232641801","display_name":"Universidad Torcuato Di Tella","ror":"https://ror.org/04sxme922","country_code":"AR","type":"education","lineage":["https://openalex.org/I232641801"]}],"countries":["AR"],"is_corresponding":false,"raw_author_name":"Guido Sandleris","raw_affiliation_strings":["Universidad Torcuato Di Tella, Buenos Aires, Argentina"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Universidad Torcuato Di Tella, Buenos Aires, Argentina","institution_ids":["https://openalex.org/I232641801"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5012545916","display_name":"Alejandro Van der Ghote","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I153515283","display_name":"European Central Bank","ror":"https://ror.org/00ajckn66","country_code":"DE","type":"government","lineage":["https://openalex.org/I1320481043","https://openalex.org/I153515283"]}],"countries":["DE"],"is_corresponding":false,"raw_author_name":"Alejandro Van der Ghote","raw_affiliation_strings":["European Central Bank, Frankfurt, Germany"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"European Central Bank, Frankfurt, Germany","institution_ids":["https://openalex.org/I153515283"]}]}],"institutions":[],"countries_distinct_count":3,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5001579811"],"corresponding_institution_ids":["https://openalex.org/I10457146"],"apc_list":{"value":4660,"currency":"USD","value_usd":4660},"apc_paid":null,"fwci":15.5343,"has_fulltext":false,"cited_by_count":72,"citation_normalized_percentile":{"value":0.98897752,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"104","issue":null,"first_page":"23","last_page":"36"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.7070000171661377,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11621","display_name":"Fiscal Policies and Political Economy","score":0.7070000171661377,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.2671000063419342,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.014700000174343586,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/sovereign-default","display_name":"sovereign default","score":0.9670000076293945},{"id":"https://openalex.org/keywords/sovereign-borrowing","display_name":"sovereign borrowing","score":0.8479999899864197},{"id":"https://openalex.org/keywords/income-inequality","display_name":"income inequality","score":0.7250000238418579},{"id":"https://openalex.org/keywords/regressive-taxation","display_name":"regressive taxation","score":0.796999990940094},{"id":"https://openalex.org/keywords/heterogeneous-agents","display_name":"heterogeneous agents","score":0.6990000009536743},{"id":"https://openalex.org/keywords/tax-burden","display_name":"tax burden","score":0.6629999876022339},{"id":"https://openalex.org/keywords/political-economy-of-debt","display_name":"political economy of debt","score":0.7070000171661377},{"id":"https://openalex.org/keywords/dsge-model","display_name":"DSGE model","score":0.7099999785423279}],"concepts":[{"id":"https://openalex.org/C2778782394","wikidata":"https://www.wikidata.org/wiki/Q1092023","display_name":"Sovereign default","level":5,"score":0.8092191219329834},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7873227596282959},{"id":"https://openalex.org/C69637215","wikidata":"https://www.wikidata.org/wiki/Q702362","display_name":"Default","level":2,"score":0.7857465744018555},{"id":"https://openalex.org/C489367","wikidata":"https://www.wikidata.org/wiki/Q1962064","display_name":"Dynamic stochastic general equilibrium","level":3,"score":0.563655436038971},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5556954145431519},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5282653570175171},{"id":"https://openalex.org/C186229450","wikidata":"https://www.wikidata.org/wiki/Q42008","display_name":"Sovereignty","level":3,"score":0.5070831775665283},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.49816346168518066},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.48997750878334045},{"id":"https://openalex.org/C2776036281","wikidata":"https://www.wikidata.org/wiki/Q48769818","display_name":"Constraint (computer-aided design)","level":2,"score":0.448292076587677},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.39923417568206787},{"id":"https://openalex.org/C2994482091","wikidata":"https://www.wikidata.org/wiki/Q12695","display_name":"Sovereign debt","level":4,"score":0.320634126663208},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.17145508527755737},{"id":"https://openalex.org/C126285488","wikidata":"https://www.wikidata.org/wiki/Q178476","display_name":"Monetary policy","level":2,"score":0.08140087127685547},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1016/j.jmoneco.2018.09.003","doi":"https://doi.org/10.1016/j.jmoneco.2018.09.003","is_oa":false,"landing_page_url":"https://doi.org/10.1016/j.jmoneco.2018.09.003","pdf_url":null,"source":{"id":"https://openalex.org/S6711363","display_name":"Journal of Monetary Economics","issn_l":"0304-3932","issn":["0304-3932","1873-1295"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320990","host_organization_name":"Elsevier BV","host_organization_lineage":["https://openalex.org/P4310320990"],"host_organization_lineage_names":["Elsevier BV"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Monetary Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:udt:wpbsdt:2011-07","doi":null,"is_oa":false,"landing_page_url":"http://www.utdt.edu/download.php?fname=_131602711166658300.pdf","pdf_url":"http://www.utdt.edu/download.php?fname=_131602711166658300.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:3125091837","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:udt:wpbsdt:2011-07","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:eee:moneco:v:104:y:2019:i:c:p:23-36","doi":null,"is_oa":true,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0304393218305282","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:oai:RePEc:eee:moneco:v:104:y:2019:i:c:p:23-36","doi":null,"is_oa":true,"landing_page_url":"http://www.sciencedirect.com/science/article/pii/S0304393218305282","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},"sustainable_development_goals":[{"display_name":"Reduced inequalities","score":0.7578999996185303,"id":"https://metadata.un.org/sdg/10"},{"display_name":"Peace, justice, and strong institutions","score":0.5473999977111816,"id":"https://metadata.un.org/sdg/16"}],"sustainable_development_goals_aurora":[{"display_name":"No poverty","score":0.7400000095367432,"id":"https://metadata.un.org/sdg/1"}],"study_designs":[],"awards":[{"id":"https://openalex.org/G8482679115","display_name":null,"funder_award_id":"11160494","funder_id":"https://openalex.org/F4320338073","funder_display_name":"Fondo Nacional de Desarrollo Cient\u00edfico y Tecnol\u00f3gico"}],"funders":[{"id":"https://openalex.org/F4320338073","display_name":"Fondo Nacional de Desarrollo Cient\u00edfico y Tecnol\u00f3gico","ror":"https://ror.org/02ap3w078"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":42,"referenced_works":["https://openalex.org/W650242483","https://openalex.org/W1480167360","https://openalex.org/W1483469024","https://openalex.org/W1502410744","https://openalex.org/W1509135995","https://openalex.org/W1526995474","https://openalex.org/W1590113496","https://openalex.org/W1595328213","https://openalex.org/W1608361905","https://openalex.org/W1915177575","https://openalex.org/W1967296512","https://openalex.org/W1980172805","https://openalex.org/W2003433356","https://openalex.org/W2004718916","https://openalex.org/W2015942114","https://openalex.org/W2026700233","https://openalex.org/W2030824944","https://openalex.org/W2043391565","https://openalex.org/W2047738325","https://openalex.org/W2056964551","https://openalex.org/W2081035952","https://openalex.org/W2107639478","https://openalex.org/W2123250765","https://openalex.org/W2137329184","https://openalex.org/W2142962692","https://openalex.org/W2149515450","https://openalex.org/W2151541043","https://openalex.org/W2269246288","https://openalex.org/W2483216220","https://openalex.org/W2526511205","https://openalex.org/W2890689265","https://openalex.org/W3025374755","https://openalex.org/W3121934613","https://openalex.org/W3122230342","https://openalex.org/W3124082201","https://openalex.org/W3125708217","https://openalex.org/W3125808446","https://openalex.org/W4205327471","https://openalex.org/W4214623531","https://openalex.org/W6727591691","https://openalex.org/W6869606972","https://openalex.org/W7062330750"],"related_works":["https://openalex.org/W2526511205","https://openalex.org/W4390324787","https://openalex.org/W2187082345","https://openalex.org/W7061201504","https://openalex.org/W2210843434","https://openalex.org/W3012979045","https://openalex.org/W4393308834","https://openalex.org/W4381952080","https://openalex.org/W2311023463","https://openalex.org/W3132185955"],"abstract_inverted_index":null,"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":7},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":30},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}