1. Almeida, V., Esquivel, C., Kehoe, T., et al. (2025). Default and Interest Rate Shocks: Renegotiation Matters.

    Note: What if lender discount rate was a function of the risk free rate, which affects the outcome of bargaining?

  2. Pitchford, R., & Wright, M. L. J. (2010). Holdouts in Sovereign Debt Restructuring: A Theory of Negotiation in a Weak Contractual Environment. Working Paper Series.