HKS Affiliated Authors

Additional Authors:

  • Kenneth Rogoff


The Forgotten History of Domestic Debt. Carmen M. Reinhart, Kenneth Rogoff, 2011, Paper. "The authors study the history of defaults on domestic public debt and the impact on inflation and external debt defaults. The results help them draw some bold conclusions as to why countries default on external debts at seemingly low debt thresholds. The authors also explore the neglect of domestic debt in the literature and assert that repayments do not necessarily favor external over domestic creditors..." May require purchase or user account. Link