{"id":"https://openalex.org/W3121692425","doi":"https://doi.org/10.1257/aer.20151667","title":"The Costs of Sovereign Default: Evidence from Argentina","display_name":"The Costs of Sovereign Default: Evidence from Argentina","publication_year":2017,"publication_date":"2017-09-29","ids":{"openalex":"https://openalex.org/W3121692425","doi":"https://doi.org/10.1257/aer.20151667","mag":"3121692425"},"language":"en","primary_location":{"id":"doi:10.1257/aer.20151667","doi":"https://doi.org/10.1257/aer.20151667","is_oa":false,"landing_page_url":"https://doi.org/10.1257/aer.20151667","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5015547447","display_name":"Benjamin M. Hebert","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I97018004","display_name":"Stanford University","ror":"https://ror.org/00f54p054","country_code":"US","type":"education","lineage":["https://openalex.org/I97018004"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Benjamin H\u00e9bert","raw_affiliation_strings":["Graduate School of Business, Stanford University, 655 Knight Way, Stanford, CA 94305 (email: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Graduate School of Business, Stanford University, 655 Knight Way, Stanford, CA 94305 (email: )","institution_ids":["https://openalex.org/I97018004"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5068944893","display_name":"Jesse Schreger","orcid":"https://orcid.org/0000-0002-4396-4497","observed_orcids":["https://orcid.org/0000-0002-4396-4497"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I78577930","display_name":"Columbia University","ror":"https://ror.org/00hj8s172","country_code":"US","type":"education","lineage":["https://openalex.org/I78577930"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jesse Schreger","raw_affiliation_strings":["Columbia Business School, Columbia University, 3022 Broadway, New York, NY 10027, and NBER (email: )"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Columbia Business School, Columbia University, 3022 Broadway, New York, NY 10027, and NBER (email: )","institution_ids":["https://openalex.org/I1321305853","https://openalex.org/I78577930"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":15.106,"has_fulltext":false,"cited_by_count":126,"citation_normalized_percentile":{"value":0.99016077,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"107","issue":"10","first_page":"3119","last_page":"3145"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9609000086784363,"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"}},"topics":[{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.9609000086784363,"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/T11496","display_name":"Credit Risk and Financial Regulations","score":0.013199999928474426,"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/T10047","display_name":"Financial Markets and Investment Strategies","score":0.005400000140070915,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/sovereign-default","display_name":"sovereign default","score":0.9980000257492065},{"id":"https://openalex.org/keywords/currency-depreciation","display_name":"currency depreciation","score":0.7689999938011169},{"id":"https://openalex.org/keywords/sovereign-risk","display_name":"sovereign risk","score":0.5},{"id":"https://openalex.org/keywords/legal-rulings","display_name":"legal rulings","score":0.3490000069141388},{"id":"https://openalex.org/keywords/default-probability","display_name":"default probability","score":0.33399999141693115},{"id":"https://openalex.org/keywords/firm-value","display_name":"firm value","score":0.34700000286102295},{"id":"https://openalex.org/keywords/argentina","display_name":"Argentina","score":0.3610000014305115}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7344522476196289},{"id":"https://openalex.org/C95383336","wikidata":"https://www.wikidata.org/wiki/Q4198710","display_name":"Depreciation (economics)","level":5,"score":0.641419529914856},{"id":"https://openalex.org/C2778782394","wikidata":"https://www.wikidata.org/wiki/Q1092023","display_name":"Sovereign default","level":5,"score":0.6271382570266724},{"id":"https://openalex.org/C2779806880","wikidata":"https://www.wikidata.org/wiki/Q778470","display_name":"Probability of default","level":3,"score":0.5773035883903503},{"id":"https://openalex.org/C186229450","wikidata":"https://www.wikidata.org/wiki/Q42008","display_name":"Sovereignty","level":3,"score":0.5642309784889221},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5604596138000488},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5263782143592834},{"id":"https://openalex.org/C2776988154","wikidata":"https://www.wikidata.org/wiki/Q66100","display_name":"Exchange rate","level":2,"score":0.4429699182510376},{"id":"https://openalex.org/C2984055962","wikidata":"https://www.wikidata.org/wiki/Q162714","display_name":"Default risk","level":3,"score":0.4152144491672516},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.35812702775001526},{"id":"https://openalex.org/C178350159","wikidata":"https://www.wikidata.org/wiki/Q162714","display_name":"Credit risk","level":2,"score":0.31949949264526367},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.12242397665977478},{"id":"https://openalex.org/C2994482091","wikidata":"https://www.wikidata.org/wiki/Q12695","display_name":"Sovereign debt","level":4,"score":0.07220157980918884},{"id":"https://openalex.org/C58202505","wikidata":"https://www.wikidata.org/wiki/Q5035700","display_name":"Capital formation","level":4,"score":0.06808805465698242},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.0},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"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/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C44750222","wikidata":"https://www.wikidata.org/wiki/Q1897397","display_name":"Financial capital","level":3,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1257/aer.20151667","doi":"https://doi.org/10.1257/aer.20151667","is_oa":false,"landing_page_url":"https://doi.org/10.1257/aer.20151667","pdf_url":null,"source":{"id":"https://openalex.org/S23254222","display_name":"American Economic Review","issn_l":"0002-8282","issn":["0002-8282","1944-7981"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310315912","host_organization_name":"American Economic Association","host_organization_lineage":["https://openalex.org/P4310315912"],"host_organization_lineage_names":["American Economic Association"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"American Economic Review","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:aea:aecrev:v:107:y:2017:i:10:p:3119-45","doi":null,"is_oa":false,"landing_page_url":"https://www.aeaweb.org/articles?id=10.1257/aer.20151667","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":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","score":0.48510000109672546,"display_name":"Decent work and economic growth"}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":56,"referenced_works":["https://openalex.org/W292078616","https://openalex.org/W644623721","https://openalex.org/W1480167360","https://openalex.org/W1487706930","https://openalex.org/W1557971685","https://openalex.org/W1974449776","https://openalex.org/W2003433356","https://openalex.org/W2008877635","https://openalex.org/W2020958936","https://openalex.org/W2027828163","https://openalex.org/W2042525942","https://openalex.org/W2056733792","https://openalex.org/W2056964551","https://openalex.org/W2072763257","https://openalex.org/W2081035952","https://openalex.org/W2099366283","https://openalex.org/W2103229558","https://openalex.org/W2103516221","https://openalex.org/W2107639478","https://openalex.org/W2111193193","https://openalex.org/W2113725466","https://openalex.org/W2129023625","https://openalex.org/W2135772724","https://openalex.org/W2138862927","https://openalex.org/W2146387535","https://openalex.org/W2149512856","https://openalex.org/W2165100677","https://openalex.org/W2179447714","https://openalex.org/W2179564758","https://openalex.org/W2188750172","https://openalex.org/W2257520161","https://openalex.org/W2460130136","https://openalex.org/W2746269424","https://openalex.org/W2890067203","https://openalex.org/W3021045036","https://openalex.org/W3024097595","https://openalex.org/W3121743352","https://openalex.org/W3121950046","https://openalex.org/W3122001533","https://openalex.org/W3122148759","https://openalex.org/W3122154853","https://openalex.org/W3122285641","https://openalex.org/W3122343401","https://openalex.org/W3122991868","https://openalex.org/W3123516361","https://openalex.org/W3124057053","https://openalex.org/W3124082201","https://openalex.org/W3124259699","https://openalex.org/W3124466994","https://openalex.org/W3124843075","https://openalex.org/W3124909920","https://openalex.org/W3124933125","https://openalex.org/W3125125145","https://openalex.org/W3125980945","https://openalex.org/W3146166473","https://openalex.org/W4298863114"],"related_works":["https://openalex.org/W7204682105","https://openalex.org/W4402023487","https://openalex.org/W7095991532","https://openalex.org/W3121592164","https://openalex.org/W3123125127","https://openalex.org/W7171787738","https://openalex.org/W2427195266","https://openalex.org/W7066031102","https://openalex.org/W7213475517","https://openalex.org/W7097873299"],"abstract_inverted_index":{"We":[0,15,44,79],"estimate":[1],"the":[2,9,23,34,52,62,76,81,90],"causal":[3],"effect":[4,18],"of":[5,12,25,36,42,54,64,72,75],"sovereign":[6,27,86],"default":[7,28,55,87],"on":[8],"equity":[10],"returns":[11],"Argentine":[13,26,65],"firms.":[14],"identify":[16],"this":[17],"by":[19,30],"exploiting":[20],"changes":[21],"in":[22,33,51,61],"probability":[24,53],"induced":[29],"legal":[31],"rulings":[32],"case":[35],"NML":[37],"Capital,":[38],"Ltd.":[39],"v.":[40],"Republic":[41],"Argentina.":[43],"find":[45],"that":[46],"a":[47,57,68,73,85],"10":[48],"percent":[49,59,70],"increase":[50],"causes":[56],"6":[58],"decline":[60],"value":[63],"equities":[66],"and":[67],"1":[69],"depreciation":[71],"measure":[74],"exchange":[77],"rate.":[78],"examine":[80],"channels":[82],"through":[83],"which":[84],"may":[88],"affect":[89],"economy.":[91],"(JEL":[92],"D22,":[93],"F31,":[94],"F34,":[95],"G32,":[96],"O14,":[97],"O16,":[98],"O19)":[99]},"counts_by_year":[{"year":2026,"cited_by_count":10},{"year":2025,"cited_by_count":23},{"year":2024,"cited_by_count":17},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":20},{"year":2021,"cited_by_count":11},{"year":2020,"cited_by_count":14},{"year":2019,"cited_by_count":13},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":6},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2021-02-01T00:00:00"}
