"This dissertation consists of essays addressing the interactions between sovereign default risk and the household sector. Each chapter employs empirical, theor

Over the past two decades, the percentage of the world’s population living on less than a dollar a day has been cut in half. How much of that improvement is b

The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many

Spiralling inequality since the 1970s and the global financial crisis of 2008 have been the two most important challenges to democratic capitalism since the Gre

How creditors came to wield unprecedented power over heavily indebted countries—and the dangers this poses to democracy The European debt crisis has rekindled