{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,3,15]],"date-time":"2026-03-15T08:50:36Z","timestamp":1773564636684,"version":"3.50.1"},"reference-count":39,"publisher":"University of Chicago Press","issue":"12","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Journal of Political Economy"],"published-print":{"date-parts":[[2025,12,1]]},"DOI":"10.1086\/738143","type":"journal-article","created":{"date-parts":[[2025,8,20]],"date-time":"2025-08-20T17:04:34Z","timestamp":1755709474000},"page":"4050-4101","source":"Crossref","is-referenced-by-count":2,"title":["Self-Fulfilling Debt Crises with Long Stagnations"],"prefix":"10.1086","volume":"133","author":[{"given":"Joao","family":"Ayres","sequence":"first","affiliation":[]},{"given":"Gaston","family":"Navarro","sequence":"additional","affiliation":[]},{"given":"Juan Pablo","family":"Nicolini","sequence":"additional","affiliation":[]},{"given":"Pedro","family":"Teles","sequence":"additional","affiliation":[]}],"member":"200","reference":[{"key":"rf1","volume-title":"Debt Dilution: Maturity and Multiplicity in Debt Models. \u201cA.E.R. 110 (9): 2783\u2013818.","author":"Aguiar M.","year":"2020"},{"key":"rf2","volume-title":"The Economics of Sovereign Debt and Default","author":"Aguiar M."},{"key":"rf3","doi-asserted-by":"crossref","unstructured":"Aguiar, M., M. Amador, E. Farhi, and G. Gopinath. 2014. \u201cCoordination and Crisis in Monetary Unions.\u201d Working Paper no. 20277, NBER, Cambridge, MA.","DOI":"10.3386\/w20277"},{"key":"rf4","volume-title":"Short Route: Equilibrium Default and Debt Maturity. \u201cEconometrica 87 (2): 423\u201362.","author":"Aguiar M.","year":"2019"},{"key":"rf5","volume-title":"Amsterdam: Elsevier.","volume":"755","author":"Aguiar M.","year":"2016"},{"key":"rf6","doi-asserted-by":"publisher","DOI":"10.1086\/718934"},{"key":"rf7","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2005.05.005"},{"issue":"3","key":"rf8","first-page":"690","volume":"98","author":"Arellano C.","year":"2008","journal-title":"A.E.R."},{"key":"rf9","volume-title":"Default: The Role of Expectations.","author":"Ayres J.","year":"2015"},{"key":"rf10","doi-asserted-by":"publisher","DOI":"10.1016\/j.jet.2018.02.006"},{"key":"rf11","unstructured":"\u2014\u2014\u2014. 2025. \u201cReplication Data for: \u2018Self-Fulfilling Debt Crises with Long Stagnations.\u2019\u201d Harvard Dataverse,https:\/\/doi.org\/10.7910\/DVN\/GJBOC6."},{"issue":"9","key":"rf12","first-page":"2629","volume":"108","author":"Bianchi J.","year":"2018","journal-title":"A.E.R."},{"key":"rf13","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2019.01.011"},{"issue":"12","key":"rf14","first-page":"4343","volume":"109","author":"Bocola L.","year":"2019","journal-title":"A.E.R."},{"key":"rf15","doi-asserted-by":"publisher","DOI":"10.1016\/j.jmoneco.2008.12.012"},{"issue":"4","key":"rf16","first-page":"647","volume":"78","author":"Calvo G. A.","year":"1988","journal-title":"A.E.R."},{"issue":"6","key":"rf17","first-page":"2674","volume":"102","author":"Chatterjee S.","year":"2012","journal-title":"A.E.R."},{"issue":"12","key":"rf18","first-page":"3740","volume":"105","author":"Chatterjee S.","year":"2015","journal-title":"A.E.R."},{"key":"rf19","volume-title":"Crisis Cycle: Challenges, Evolution, and Future of the Euro.","author":"Cochrane J. H.","year":"2025"},{"key":"rf20","doi-asserted-by":"publisher","DOI":"10.1111\/1467-937X.00123"},{"key":"rf21","doi-asserted-by":"publisher","DOI":"10.1007\/s00199-017-1085-5"},{"key":"rf22","unstructured":"Corsetti, G., and L. Dedola. 2014. \u201cThe \u2018Mystery of the Printing Press\u2019 Monetary Policy and Self-Fulfilling Debt Crises.\u201d Discussion Paper no. 2014-24, Centre Macroeconomics, London."},{"key":"rf23","doi-asserted-by":"publisher","DOI":"10.1257\/mac.5.3.85"},{"key":"rf200","unstructured":"De Grauwe, P. 2011. \u201cThe European Central Bank as a Lender of Last Resort.\u201d VoxEU, August 18.https:\/\/cepr.org\/voxeu\/columns\/european-central-bank-lender-last-resort."},{"key":"rf24","doi-asserted-by":"publisher","DOI":"10.1016\/j.jimonfin.2012.11.003"},{"key":"rf25","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2014.05.001"},{"key":"rf26","doi-asserted-by":"publisher","DOI":"10.2307\/2296886"},{"key":"rf400","unstructured":"Economist\n                      . 2021. \u201cMario Draghi Begins the Toughest Job in European Politics.\u201d\n                      Economist\n                      , February 18.https:\/\/www.economist.com\/europe\/2021\/02\/18\/mario-draghi-begins-the-toughest-job-in-european-politics."},{"key":"rf27","doi-asserted-by":"publisher","DOI":"10.2307\/1912559"},{"key":"rf28","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2009.07.002"},{"key":"rf29","doi-asserted-by":"publisher","DOI":"10.1086\/688081"},{"key":"rf30","doi-asserted-by":"publisher","DOI":"10.1016\/j.jmoneco.2006.07.008"},{"key":"rf31","doi-asserted-by":"publisher","DOI":"10.1016\/0304-4076(94)90036-1"},{"issue":"9","key":"rf33","first-page":"3229","volume":"109","author":"Lorenzoni G.","year":"2019","journal-title":"A.E.R."},{"key":"rf34","unstructured":"Monteiro, R. A., and S. Fourakis. 2023. \u201cSovereign Debt Auctions with Strategic Interactions.\u201d Working paper."},{"key":"rf35","volume-title":"Argentina and the Fund: From Triumph to Tragedy","author":"Mussa M."},{"key":"rf36","doi-asserted-by":"publisher","DOI":"10.3982\/QE1797"},{"key":"rf37","doi-asserted-by":"publisher","DOI":"10.1016\/j.jinteco.2018.05.002"},{"key":"rf500","unstructured":"Spiegel, P. 2014. \u201cIf the Euro Falls, Europe Falls.\u201d\n                      Financial Times\n                      , May 15.https:\/\/www.ft.com\/content\/b4e2e140-d9c3-11e3-920f-00144feabdc0."}],"container-title":["Journal of Political Economy"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.journals.uchicago.edu\/doi\/pdf\/10.1086\/738143","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,12,18]],"date-time":"2025-12-18T21:34:44Z","timestamp":1766093684000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.journals.uchicago.edu\/doi\/10.1086\/738143"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,12,1]]},"references-count":39,"journal-issue":{"issue":"12","published-print":{"date-parts":[[2025,12,1]]}},"alternative-id":["10.1086\/738143"],"URL":"https:\/\/doi.org\/10.1086\/738143","relation":{},"ISSN":["0022-3808","1537-534X"],"issn-type":[{"value":"0022-3808","type":"print"},{"value":"1537-534X","type":"electronic"}],"subject":[],"published":{"date-parts":[[2025,12,1]]}}}