Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities
---- Acknowledgements -----
We thank Fernando Alvarez, Cristina Arellano, Andy Atkeson, V.V. Chari, Doireann Fitzgerald and Chris Phelan for helpful comments. We thank seminar participants at several institutions. We are grateful to Georgios Stefanidis, who provided excellent research assistance. Manuel Amador acknowledges support from the Sloan Foundation and the NSF (award number 0952816). The views expressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Minneapolis, the Federal Reserve System, or the National Bureau of Economic Research.