G. Mitu Gulati
Warner-Booker Distinguished Professor of International Law
Room
WB384
Assistant
Mitu Gulati’s work focuses on sovereign debt restructuring and contracts, and explores how to help countries in financial distress.
Gulati joined the UVA Law faculty in 2021. He was previously on the faculty of Duke Law School since 2004, and has also served on the faculties of UCLA Law School and the Georgetown University Law Center. Gulati co-hosts the podcast “Clauses and Controversies” and is a contributor to the blog Creditslips.org.
Gulati has won no awards, prizes or other distinctions. That is, with the exception of a second place finish in the fancy dress competition in third grade in India.
Forthcoming
Commercial Boilerplate: A Review and Research Agenda (with Robert Scott & Stephen Choi), Annual Review of Law and Social Science (2024).
Consequential Damages: Alien Vomit or Intelligent Design? (with Tara Chowdhury et al.), Washington University Law Review (2024).
Fixing the Fraud Carve Out: A Study of Private Equity Contracting (with Stephen Choi, Matt Jennejohn & Robert Scott), University of Pennsylvania Law Review (2024).
The Duty of Creditors to Cooperate in Sovereign Debt Workouts (with Lee C. Buchheit)Festschrift in Honor of Christoph Paulus (2024).
Are M&A Lawyers Better at Contract Drafting? (with Stephen Choi & Robert E. Scott), Case Western Reserve Law Review (2023).
Odious Debts: The Power of a Mythical Doctrine (with Mark Weidemaier, Ugo Panizza & Kim Oosterlinck)Encyclopedia of International Economic Law, Edward Elgar Publishing (2 ed.).
Works in Progress
COVID-19 Risk Factors and Boilerplate Disclosure (with Stephen Choi, Xuan Li & Adam Pritchard) (2024).
Guns, Judges, and Trump (with Lee Epstein & Rebecca Brown) (2024).
How Different Are the Trump Judges? (with Stephen J. Choi) (2024).
If Roe Must Go . . . So Must Bruen (with Rebecca L. Brown & Lee Epstein) (2024).
Obscure Contract Terms: An Inadvertent Pricing Experiment (with Stephen J. Choi et al.) (2024).
Trump's Lower-Court Judges and Religion: An Initial Appraisal (with Stephen J. Choi & Eric A. Posner), Journal of Legal Studies (2024).
“Delicate and Embarrassing”: U.S. Loans to Suppress Haitian Independence (with Mark Weidemaier, Ugo Panizza & Kim Oosterlinck) (2024).
From Pigs to Hogs (with Stephen J. Choi) (2015).
A Winner's Curse?: Promotions from the Lower Federal Courts (with Stephen J. Choi & Eric A. Posner) (2014).
Walking Back from Cyprus (with Lee C. Buchheit) (2013).
Engineering an Orderly Greek Debt Restructuring (with Jeromin Zettelmeyer) (2012).
The Dynamics of Contract Evolution (with Stephen J. Choi & Eric A. Posner), University of Chicago Institute for Law & Economics Olin Research Paper No. 605 (2012).
Greek Debt - The Endgame Scenarios (with Lee C. Buchheit) (2011).
Political Risk and Sovereign Debt Contracts (with Stephen J. Choi & Eric A. Posner), University of Chicago Institute for Law & Economics Olin Research Paper No. 583 (2011).
Sustainability-Linked Bonds: Exciting New Green Product or Dud? (with Mark Weidermaier & Quinn Curtis).
Books
European Financial Infrastructure in the Face of New Challenges (edited with Franklin Allen, Elena Carletti & Jeromin Zettelmeyer), European University Institute (2019).
Institutions and the Crisis (edited with Franklin Allen & Elena Carletti), European University Institute (2018).
The Changing Geography of Finance and Regulation in Europe (edited with Franklin Allen, Elena Carletti & Joanna Gray), European University Institute (2017).
Filling the Gaps in Governance: The Case of Europe (edited with Franklin Allen, Elena Carletti & Joanna Gray), European University Institute (2016).
Acting White?: Rethinking Race in Post-Racial America (with Devon W. Carbado), Oxford University Press (2013).
The 3 1/2 Minute Transaction: Boilerplate and the Limits of Contract Design (with Robert E. Scott), University of Chicago Press (2013).
Book Chapters
Maduro Bonds (with Ugo Panizza), in Sovereign Debt Diplomacies: Rethinking Sovereign Debt from Colonial Empires to Hegemony, Oxford University Press, 282–300 (2021).
Contractual Arbitrage, in The Oxford Handbook of Institutions of International Economic Governance and Market Regulation , Oxford University Press (2019).
Financial Crises and Constitutional Compromise (with Georg Vanberg), in Constitutions in Times of Financial Crisis, Cambridge University Press, 117–145 (2019).
Paper Tigers (or How Much Will Courts Protect Rights in a Financial Crisis?) (with Georg Vanberg), in Institutions and the Crisis, European University Institute, 111–132 (2018).
International Finance and Sovereign Debt (with W. Mark Weidemaier), in The Oxford Handbook of Law and Economics, Oxford University Press, 482–500 (2017).
Can Greece be Expelled from the Eurozone? Toward a Default Rule of Expulsion from International Organizations (with Joseph Blocher & Laurence R. Helfer), in Filling the Gaps in Governance: The Case of Europe , EUI, 127–150 (2016).
Customary International Law: How Do Courts Do It? (with Stephen J. Choi), in Custom’s Future: International Law in a Changing World, Cambridge University Press, 117–147 (2016).
Talking One's Way Out of a Debt Crisis (with Lee C. Buchheit), in Filling the Gaps in Governance: The Case of Europe, European University Institute, 37–44 (2016).
When Governments Write Contracts: Policy and Expertise in Sovereign Debt Markets (with Anna Gelpern & W. Mark Weidemaier), in Contractual Knowledge: One Hundred Years of Legal Experimentation in Global Markets , Cambridge University Press, 92–117 (2016).
Evaluating the 2013 Euro CAC Experiment (with Paolo Colla & Elena Carletti), in The New Financial Architecture of the Eurozone, European University Institute, 123 (2015).
Evaluating the 2013 Euro CAC Experiment (with Elena Carletti & Paolo Colla), in The New Financial Architecture of the Eurozone , EUI, 123–136 (2015).
The Diversity Feedback Loop (with Devon Carbado & Patrick Shin), in A Nation of Widening Opportunities: The Civil Rights Act at 50 , Michigan Publishing, 119–143 (2015).
Making a Voluntary Greek Debt Exchange Work (with Jeromin Zettelmeyer), in A Debt Restructuring Mechanism for Sovereigns : Do We Need a Legal Procedure?, Bloomsbury Publishing Plc, 119–127 (2014).
Managing Holdouts: The Case of the 2012 Greek Exchange (with Christoph Trebesch & Jeromin Zettelmeyer), in Sovereign Debt Management , Oxford University Press, 25–38 (2014).
Restructuring a Euro Area Sovereign Guarantee (with Lee C. Buchheit), in Bearing the Losses from Bank and Sovereign Default in the Eurozone , FIC Press, 143–164 (2014).
Sovereign Contingent Liabilities (with Lee C. Buchheit), in Sovereign Debt Management , Oxford University Press, 241–254 (2014).
How Markets Work: The Lawyer's Version (with Mark C. Weidemaier), in From Economy to Society? Perspectives on Transnational Risk Regulation (Studies in Law, Politics, and Society, Vol. 62), Emerald, 107–134 (2013).
Restructuring a Sovereign Debtor's Contingent Liabilities (with Lee C. Buchheit), in Sovereign Financing and International Law: The UNCTAD Principles on Responsible Lending and Borrowing , Oxford University Press, 287–294 (2013).
Restructuring a Nation's Debt (with Lee C. Buchheit), in Managing Risk in the Financial System , Edward Elgar, 168–178 (2011).
The Story of Jespersen v. Harrah's: Makeup and Women at Work (with Devon Carbado & Gowri Ramachandran), in Employment Discrimination Stories, Foundation Press, 105–152 (2006).
Sovereign Bonds and the Collective Will (with Lee Buchheit), in Bank of England Proceedings of Conference on Sovereign Debt (2004).
How Do Judges Maximize? (The Same Way Everybody Else Does - Boundedly): Rules of Thumb in Securities Fraud Opinions (with Stephen Bainbridge), in Securities Law Handbook, Thomson West (2003).
The Fifth Black Woman (with Devon Carbado), in Critical Race Feminism: A Reader, New York University Press (2 ed. 2003).
Jayamma: Profile of a Widowed Brick Worker (with Leela Gulati), in Widows in India: Social Neglect and Public Action , Sage Publications, 361–372 (1998).
Ethics in Finance (with Susan Rose-Ackerman), in The New Palgrave Dictionary of Money and Finance , Stockton Press, 779 (1992).
Turning Points in Economic Time Series, Loss Structures, and Bayesian Forecasting (with Chansik Hong & Arnold Zellner), in Bayesian and Likelihood Methods in Statistics and Econometrics: Essays in Honor of George A. Bernard , Elsevier, 371–393 (1990).
Articles & Reviews
Contractual Landmines (with Robert Scott & Stephen Choi), 41 Yale Journal on Regulation 307 (2024).
Diaspora Bonds: Patriotism or Investment? (with Michael Bradley & Irving de Lira Salvatierra), 19 Capital Markets Law Journal 152–168 (2024).
The 2012 Greek Retrofit and Borrowing Costs in the European Periphery (with Patrick Bolton, Xuewen Fu & Ugo Panizza), 1 Journal of Law and Empirical Analysis 1–18 (2024).
The Power Five: The Making of Newsworthy Deal Teams (with Tracey E. George & Albert Yoon), 77 Vanderbilt Law Review En Banc 91–116 (2024).
Avoiding a Lost Decade—An Interim Update (with Lee C. Buchheit), 39 Oxford Review of Economic Policy 356–359 (2023).
Comparing Agency Costs in Contract Production (with Stephen Choi, Robert Scott & Matt Jennejohn), 74 Case Western Law Review 47 (2023).
Contract Production in M&A Markets (with Stephen J. Choi, Matthew Jennejohn & Robert E. Scott), 171 University of Pennsylvania Law Review 1881 (2023).
Contractual Howlers: A Russian Bond Case Study (with Stephen Choi & Robert Scott), 73 University of Toronto Law Journal 124–136 (2023).
Deep in the Shadows?: The Facts About the Emergency Docket (with Pablo Das & Lee Epstein), 109 Virginia Law Review Online 49 (2023).
Do Investors Care about Municipal Debtors’ Access to Bankruptcy? Evidence from Bond Disclosures (with Richard C. Schragger), 50 Fordham Urban Law Journal 657 (2023).
Enforcing Comparable Treatment in Sovereign Debt Workouts (with Lee C. Buchheit), 18 Capital Markets Law Journal 71–77 (2023).
Green Bonds, Empty Promises (with Quinn Curtis & Mark C. Weidemaier), 102 North Carolina Law Review 131 (2023).
On Debt and climate (with Patrick Bolton et al.), 2 Oxford Open Economics 1 (2023).
Risk, Contract Terms and Maturity in the Sovereign Bond Market (with Michael Bradley, Irving De Lira Salvatierra & Ugo Panizza), fjad009 Journal of Financial Regulation (2023).
Some Are More Equal Than Others: U.S. Supreme Court Clerkships (with Tracey E. George & Albert Yoon), 123 Columbia Law Review Forum 146–182 (2023).
Sovereign Debt Puzzles (with Patrick Bolton & Ugo Panizza), 15 Annual Review of Financial Economics 239–263 (2023).
A Century of Business in the Supreme Court, 1920-2020 (with Lee Epstein), 107 Minnesota Law Review Headnotes 49–74 (2022).
A Debt of Dishonor (with Kim Oosterlinck, Ugo Panizza & Mark C. Weidemaier), 102 Boston University Law Review 1247–1275 (2022).
A Silver Lining to Russia’s Sanctions-Busting Clause? (with Michael Bradley, Irving de Lira Salvatierra & W. Mark C. Weidemaier), 108 Virginia Law Review Online 326 (2022).
Environmental protection and sovereign debt restructuring (with Lee C Buchheit et al.), 17 Capital Markets Law Journal 307–316 (2022).
Gender, Credentials and M&A (with Tracey E. George & Albert Yoon), 48 Brigham Young University Law Review 723 (2022).
Navassa: Property, Sovereignty, and the Law of the Territories (with Joseph Blocher), 131 Yale Law Journal 2390 (2022).
The Odious Haitian Independence Debt (with Kim Oosterlinck, Ugo Panizza & Mark C. Weidemaier), 13 Journal of Globalization and Development 339–378 (2022).
The Price of Cheeky Contracting (with Paolo Colla), 85 Law and Contemporary Problems 99–126 (2022).
Avoiding a Lost Decade - Sovereign Debt Workouts in the Post-COVID Era (with Lee C. Buchheit), 16 Capital Markets Law Journal 45–55 (2021).
Contracts of Inattention (with Marcel Kahan), 46 Law & Social Inquiry 1115–1140 (2021).
Damages as a Function of Fault: Willful Breach in M&A Contracts (with Theresa Arnold et al.), 62 Boston College Law Review Electronic Supplement I.-32 (2021).
Investigating the Contract Production Process (with Stephen J. Choi & Robert E. Scott), 16 Capital Markets Law Journal 414–431 (2021).
Legal Air Cover (with Patrick Bolton & Ugo Panizza), 7 Journal of Financial Regulation 189–216 (2021).
Lipstick on a Pig: Specific Performance on the Ground (with Theresa Arnold et al.), 2021 Wisconsin Law Review 359 (2021).
Nailing the Flag to the Mast - Promises of Super-Priority in Public Debt (with Lee Buchheit & Mihalis Gousgounis), 16 Capital Markets Law Journal 414–481 (2021).
The Make-Whole Provision in Sovereign Bonds (with Ugo Panizza), 16 Capital Markets Law Journal 267–299 (2021).
The Price of Law: The Case of the Eurozone Collective Action Clauses (with Elena Carletti, Paolo Colla & Steven Ongena), 34 Review of Financial Studies 5933–5976 (2021).
Unlawfully-Issued Sovereign Debt (with Mark Weidemaier), 61 Virginia Journal of International Law 553–592 (2021).
Alternative Solutions to the Odious Debt Problem (with Ugo Panizza), LIV Annals of the Fondazione Einaudi 153–168 (2020).
Anticipating Venezuela’s Debt Crisis: Hidden Holdouts and the Problem of Pricing Collective Action Clauses (with Stephen J. Choi & Robert E. Scott), 100 Boston University Law Review 253–300 (2020).
How to Restructure Euro Area Sovereign Debt in the Era of COVID-19 (with Theresa Arnold & Ugo Panizza), 15 Capital Markets Law Journal 322–346 (2020).
King Leopold's Bonds and the Odious Debts Mystery (with Joseph Blocher & Kim Oosterlinck), 60 Virginia Journal of International Law 487–530 (2020).
Necessity and the Covid-19 Pandemic (with Mark C. Weidemaier), 15 Capital Markets Law Journal 277–283 (2020).
Revising Boilerplate: A Comparison of Private and Public Company Transactions (with Stephen J. Choi & Robert E. Scott), 2020 Wisconsin Law Review 629–655 (2020).
The Argentine Collective Action Clause Controversy (with Lee C. Buchheit), 15 Capital Markets Law Journal 464–473 (2020).
The Hausmann-Gorky Effect (with Ugo Panizza), 166 Journal of Business Ethics 175–195 (2020).
The Myth of Optimal Expectation Damages (with Theresa Arnold, Amanda Dixon & Madison Whalen), 104 Marquette Law Review 141–182 (2020).
Transferable Sovereignty: Lessons from the History of the Congo Free State (with Joseph Blocher), 69 Duke Law Journal 1219–1273 (2020).
When Governments Promise to Prioritize Public Debt: Do Markets Care? (with Ugo Panizza, Mark C. Weidemaier & Grace Willingham), 6 Journal of Financial Regulation 41–74 (2020).
Why Did Belgium Pay Leopold’s Bonds? (with Joseph Blocher & Kim Oosterlinck), 83 Law and Contemporary Problems 49–70 (2020).
If Boilerplate Could Talk: The Work of Standard Terms in Sovereign Bond Contracts (with Anna Gelpern & Jeromin Zettelmeyer), 44 Law and Social Inquiry 617–646 (2019).
Judicial Institutions and Behavior (edited with Jack Knight & Margaret H. Lemos), 82 Law & Contemporary Problems (2019).
Should I Stay or Should I Go? The Gender Gap for Securities and Exchange Commission Attorneys (with Stephen J. Choi & Adam C. Pritchard), 62 Journal of Law and Economics 427–456 (2019).
Sovereign Debt Restructuring and U.S. Executive Power (with Lee C. Buchheit), 14 Capital Markets Law Journal 114–130 (2019).
The Sovereign Debt Listing Puzzle (with Josefin Meyer & Elisabeth de Fontenay), 71 Oxford Economic Papers 472–495 (2019).
Cash America and the Structure of Bondholder Remedies (with Marcel Kahan), 13 Capital Markets Law Journal 570–586 (2018).
Deterring Holdout Creditors in a Restructuring of PDVSA Bonds and Promissory Notes (with Lee C. Buchheit), 13 Capital Markets Law Journal 148–151 (2018).
Evaluating Judges and Judicial Institutions: Reorienting the Perspective (with David E. Klein & David F. Levi), 67 Duke Law Journal Online (2018).
How to Restructure Venezuelan Debt (with Lee C. Buchheit), 25 Economic & Financial Review 63–85 (2018).
Market Practice and the Evolution of Foreign Sovereign Immunity (with Mark C. Weidemaier), 43 Law & Social Inquiry 496–526 (2018).
Pricing Sovereign Debt: Foreign Versus Local Parameters (with Michael Bradley, Elisabeth de Fontenay & Irving Arturo de Lira Salvatierra), 24 European Financial Management 261–297 (2018).
Puerto Rico and the Right of Accession (with Joseph Blocher), 43 Yale Journal of International Law 229–271 (2018).
Sovereign Bond Contracts: Flaws in the Public Data? (with Andrea E. Kropp & Mark C. Weidemaier), 4 Journal of Financial Regulation 190–208 (2018).
Sovereign Debt Restructuring in Europe (with Lee C. Buchheit), 9 Global Policy 65–69 (2018).
Talking Judges (with Jack Knight), 67 Duke Law Journal Online (2018).
Use of the Local Law Advantage in the Restructuring of European Sovereign Bonds (with Lee C. Buchheit), 3 University of Bologna Law Review 172–179 (2018).
Variation in Boilerplate: Rational Design or Random Mutation? (with Stephen J. Choi & Robert E. Scott), 20 American Law and Economics Review 1–45 (2018).
What Does Puerto Rican Citizenship Mean for Puerto Rico's Legal Status? (with Joseph Blocher), 67 Duke Law Journal Online 122–132 (2018).
A Market for Sovereign Control (with Joseph Blocher), 66 Duke Law Journal 797–843 (2017).
Adjudicating Death: Professionals or Politicians? (with Stephen J. Choi), 70 Vanderbilt Law Review 1709–1727 (2017).
Custom in Our Courts: Reconciling Theory with Reality in the Debate About Erie Railroad and Customary International Law (with Nikki C. Gutierrez), 27 Duke Journal of Comparative & International Law 243–290 (2017).
Forced Secessions (with Joseph Blocher), 80 Law & Contemporary Problems 215–247 (2017).
Markets and Sovereignty (with Joseph Blocher), 54 Osgoode Hall Law Journal 465–490 (2017).
Puerto Rico and the Netherworld of Sovereign Debt Restructuring (with Robert K. Rasmussen), 91 Southern California Law Review 133–162 (2017).
Restructuring Sovereign Debt After NML v. Argentina (with Lee C. Buchheit), 12 Capital Markets Law Journal 224–238 (2017).
The Black Hole Problem in Commercial Boilerplate (with Stephen J. Choi & Robert E. Scott), 67 Duke Law Journal 1–77 (2017).
The Puzzle of PDVSA Bond Pricing (with Paolo Colla & Anna Gelpern), 12 Capital Markets Law Journal 66–77 (2017).
Competing for Refugees: A Market-Based Solution to a Humanitarian Crisis (with Joseph Blocher), 48 Columbia Human Rights Law Review 53–111 (2016).
Courts of Good and Ill Repute: Garoupa & Ginsburg's Judicial Reputation: A Comparative Theory (with Tracey E. George) (reviewing Nuno Garoupa and Tom Ginsburg, Judicial Reputation: A Comparative Theory) 83 University of Chicago Law Review 1683–1715 (2016).
Discrimination by Customers (with Katharine T. Bartlett), 102 Iowa Law Review 223–257 (2016).
How Bayesian are Judges? (with Jack Knight & David F. Levi), 16 Nevada Law Journal 1061–1084 (2016).
Pricing Contract Terms in a Crisis: Venezuelan Bonds in 2016 (with Elena Carletti, Paolo Colla & Steven Ongena), 11 Capital Markets Law Journal 540–555 (2016).
Targeted Subordination of Official Sector Debt (with Lee C. Buchheit), 31 Banking & Finance Law Review 371–376 (2016).
The Management of Staff by Federal Court of Appeals Judges (with Richard A. Posner), 69 Vanderbilt Law Review 479–497 (2016).
The Pricing of Non-Price Terms in Sovereign Bonds: The Case of the Greek Guarantees (with Stephen J. Choi), 1 Journal of Law, Finance, & Accounting 1–40 (2016).
Reprofiling Sovereign Debt (with Lee Buchheit & Ignacio Tirado), Journal of International Banking Law (2015).
The Relevance of Law to Sovereign Debt (with W. Mark Weidemaier), 11 Annual Review of Law and Social Science 395–408 (2015).
The Role of Competence in Promotions from the Lower Federal Courts (with Stephen J. Choi & Eric A. Posner), 44 Journal of Legal Studies S107-S131 (2015).
Altruism Exchanges and the Kidney Shortage (with Stephen J. Choi & Eric A. Posner), 77 Law and Contemporary Problems 289–322 (2014).
Collective Action Clauses for the Eurozone (with Michael Bradley), 18 Review of Finance 2045–2102 (2014).
Cultivating Inclusion (with Patrick S. Shin), 112 Michigan Law Review First Impressions 117–123 (2014).
Lawyers: Gatekeepers of the Sovereign Debt Market? (with Michael Bradley & Irving De Salvatierra), 38 International Review of Law & Economics 150–168 (2014).
Santa Anna and His Black Eagle: The Origins of Pari Passu? (with Benjamin Remy Chabot), 9 Capital Markets Law Journal 216–241 (2014).
The Diversity Feedback Loop (with Devon Carbado & Patrick Shin), 2014 University of Chicago Legal Forum 345–376 (2014).
The International Monetary Fund's Imperiled Priority (with Melissa Boudreau), 10 Duke Journal of Constitutional Law & Public Policy 119–148 (2014).
Ukraine and Russia: "You Break It, You Bought It" (with Joseph Blocher), Financial History 28–32 (2014).
A People's History of Collective Action Clauses (with Mark C. Weidemaier), 54 Virginia Journal of International Law 51–96 (2013).
Book Review (with W. Mark Weidemaier) (reviewing Annelise Riles, Collateral Knowledge: Legal Reasoning in the Global Financial Markets ) 36 PoLAR: Political and Legal Anthropology Review 190–192 (2013).
Origin Myths, Contracts, and the Hunt for Pari Passu (with Robert E. Scott & Mark Weidemaier), 38 Law & Social Inquiry 72–105 (2013).
The Eurozone Debt Crisis: The Options Now (with Lee C. Buchheit), 8 Capital Markets Law Journal 54–61 (2013).
The Evolution of Euro Area Sovereign Debt Contract Terms (with Frank Smets), 11 Journal of Institutional Comparisons 1–5 (2013).
The Greek Debt Restructuring: An Autopsy (with Christoph Trebesch & Jeromin Zettelmeyer), 28 Economic Policy 513–563 (2013).
The Intersectional Fifth Black Woman (with Devon W. Carbado), 10 Du Bois Review: Social Science Research on Race 527–540 (2013).
The Law and Policy of Judicial Retirement: An Empirical Study (with Stephen J. Choi & Eric A. Posner), 42 Journal of Legal Studies 111–150 (2013).
The Problem of Holdout Creditors in Eurozone Sovereign Debt Restructurings (with Lee C. Buchheit & Ignacio Tirado), Butterworths Journal of International Banking and Financial Law 191–194 (2013).
The Wonder-Clause (with Anna Gelpern), 41 Journal of Comparative Economics 367–385 (2013).
CDS Zombies (with Anna Gelpern), 13 European Business Organization Law Review 347–390 (2012).
Foreword: The Duke Project on Custom and Law (with Curtis A. Bradley), 62 Duke Law Journal 529–533 (2012).
Making a Voluntary Greek Debt Exchange Work (with Jeromin Zettelmeyer), 7 Capital Markets Law Journal 169–183 (2012).
Sonia Sotomayor and the Construction of Merit (with Guy-Uriel Charles & Daniel L. Chen), 61 Emory Law Journal 801–861 (2012).
The Evolution of Contractual Terms in Sovereign Bonds (with Stephen J. Choi & Eric A. Posner), 4 Journal of Legal Analysis 131–179 (2012).
Drafting A Model Collective Action Clause For Eurozone Sovereign Bonds (with Lee C. Buchheit), 6 Capital Markets Law Journal 317–325 (2011).
Foreword: The Three and a Half Minute Transaction: Boilerplate and the Limits of Contract Design (with Robert E. Scott), 40 Hofstra Law Review 1–9 (2011).
How Well Do Measures of Judicial Ability Translate into Performance?: A Case Study Using Securities Class Actions (with Stephen J. Choi & Eric A. Posner), 33 International Review of Law and Economics 37–53 (2011).
Judging Women (with Stephen J. Choi, Mirya Holman & Eric A. Posner), 8 Journal of Empirical Legal Studies 504–532 (2011).
Mandatory Versus Default Rules: How Can Customary International Law Be Improved? (with Curtis A. Bradley), 120 Yale Law Journal Online 421–454 (2011).
Pricing Terms in Sovereign Debt Contracts: A Greek Case Study with Implications for the European Crisis Resolution Mechanism (with Stephen J. Choi & Eric A. Posner), 6 Capital Markets Law Journal 163–187 (2011).
Showcasing Diversity (with Patrick S. Shin), 89 North Carolina Law Review 1017–1053 (2011).
The New Old Legal Realism (with Tracey E. George & Ann C. McGinley), 105 Northwestern University Law Review 689–735 (2011).
What do Federal District Judges Want? An Analysis of Publications, Citations, and Reversals (with Stephen J. Choi & Eric A. Posner), 28 The Journal of Law, Economics, & Organization 518–549 (2011).
A Modern Legal History of Sovereign Debt (edited with Anna Gelpern), 73 Law and Contemporary Problems (2010).
Applied Legal History: Demystifying The Doctrine Of Odious Debts (with Alfred L. Brophy & Sarah Ludington), 11 Theoretical Inquiries in Law 247–281 (2010).
Customary International Law and Withdrawal Rights in an Age of Treaties (with Curtis A. Bradley), 21 Duke Journal of Comparative & International Law 1–30 (2010).
Foreword: Of Lawyers, Leaders, and Returning Riddles in Sovereign Debt (with Anna Gelpern), 73 Law and Contemporary Problems i-xii (2010).
Responsible Sovereign Lending and Borrowing (with Lee C. Buchheit), 73 Law and Contemporary Problems 63–92 (2010).
Restructuring a Nation's Debt (with Lee C. Buchheit), 29 International Financial Law Review 46–49 (2010).
The Market Reaction to Legal Shocks and Their Antidotes: Lessons From The Sovereign Debt Market (with Michael Bradley & James D. Cox), 39 Journal of Legal Studies 289–324 (2010).
Withdrawing from International Custom (with Curtis A. Bradley), 120 Yale Law Journal 202–275 (2010).
"Make or Buy" and International Law (with Scott Baker), 165 Journal of Institutional & Theoretical Economics 134–141 (2009).
"Only Connect": Toward a Unified Measurement Project (with David F. Levi), 58 Duke Law Journal 1181–1190 (2009).
Are Judges Overpaid?: A Skeptical Response to the Judicial Salary Debate (with Stephen J. Choi & Eric A. Posner), 1 Journal of Legal Analysis 47–117 (2009).
Feel-Good Formalism (with Anna Gelpern), 35 Queen’s Law Journal 97–116 (2009).
Judicial Evaluations and Information Forcing: Ranking State High Courts and Their Judges (with Stephen J. Choi & Eric A. Posner), 58 Duke Law Journal 1313–1382 (2009).
Mr. Presidential Candidate: Whom Would You Nominate? (with Stuart Minor Benjamin), 42 Loyola of Los Angeles Law Review 293–334 (2009).
The Coroner's Inquest: Ecuador's Default and Sovereign Bond Documentation (with Lee C. Buchheit), 28 International Financial Law Review 22–25 (2009).
A Convenient Untruth: Fact and Fantasy in the Doctrine of Odious Debts (with Sarah Ludington), 48 Virginia Journal of International Law 595–639 (2008).
After Inclusion (with Devon Carbado & Catherine Fisk), 4 Annual Review of Law and Social Science 83–102 (2008).
Bias in Judicial Citations: A Window into the Behavior of Judges? (with Stephen J. Choi), 37 Journal of Legal Studies 87–129 (2008).
Innovation after the Revolution: Foreign Sovereign Bond Contracts Since 2003 (with Anna Gelpern), 4 Capital Markets Law Journal 85–103 (2008).
Judging Measures (with David F. Levi), 77 UMKC Law Review 381–413 (2008).
Odious Debts and Nation-Building: When the Incubus Departs (with Lee C. Buchheit), 60 Maine Law Review 477–485 (2008).
Professionals or Politicians: The Uncertain Empirical Case for an Elected Rather Than Appointed Judiciary (with Stephen J. Choi & Eric A. Posner), 26 Journal of Law, Economics, and Organization 290–336 (2008).
Trading Votes For Reasoning: Covering In Judicial Opinions (with Stephen J. Choi), 81 Southern California Law Review 735–779 (2008).
Contracts Without Law: Sovereign Versus Corporate Debt (with George Triantis), 75 University of Cincinnati Law Review 977–1004 (2007).
Foreword: Making Makeup Matter (with Devon Carbado & Catherine Fisk), 14 Duke Journal of Gender Law and Policy 1–11 (2007).
Partially Odious Debts? (with Omri Ben-Shahar), 70 Law and Contemporary Problems 47–81 (2007).
Ranking Judges According to Citation Bias (As a Means to Reduce Bias) (with Stephen J. Choi), 82 Notre Dame Law Review 1279–1309 (2007).
Symposium: Odious Debts and State Corruption (edited with David A., Skeel), 70 Law and Contemporary Problems (2007).
The Dilemma of Odious Debts (with Lee C. Buchheit & Robert B. Thompson), 56 Duke Law Journal 1201–1262 (2007).
A Response to Professor Sander: Is It Really All About the Grades? (with James E., Coleman), 84 North Carolina Law Review 1823–1839 (2006).
An Empirical Study of Securities Disclosure Practice (with Stephen J. Choi), 80 Tulane Law Review 1023–1108 (2006).
Contract as Statute (with Stephen J. Choi), 104 Michigan Law Review 1129–1173 (2006).
Introduction: A New Legal Realist Perspective On Employment Discrimination (with Laura Beth Nielsen), 31 Law and Social Inquiry 797–799 (2006).
Public Symbol in Private Contract: A Case Study (with Anna Gelpern), 84 Washington University Law Review 1627–1715 (2006).
The Rat Race as an Information Forcing Device (with Scott Baker & Stephen J. Choi), 81 Indiana Law Journal 53–82 (2006).
Foreword: The Klein Criteria Project (with Paul S. Edwards), 2 Berkeley Business Law Journal 1–11 (2005).
Judicial Triage: Reflections on the Debate over Unpublished Opinions (with David C. Vladeck), 62 Washington and Lee Law Review 1667–1708 (2005).
Mr. Justice Posner? Unpacking the Statistics (with Stephen J. Choi), 61 NYU Annual Survey of American Law 19–43 (2005).
Race to the Top of the Corporate Ladder: What Minorities Do When They Get There (with Devon W. Carbado), 61 Washington and Lee Law Review 1645–1693 (2005).
Which Judges Write Their Opinions (And Should We Care) (with Stephen J. Choi), 32 Florida State University Law Review 1077–1122 (2005).
A Tournament of Judges? (with Stephen Choi), 92 California Law Review 299–322 (2004).
Choosing the Next Supreme Court Justice: An Empirical Ranking of Judge Performance (with Stephen J. Choi), 78 Southern California Law Review 23–118 (2004).
Economic Organization in the Construction Industry: A Case Study of Collaborative Production Under High Uncertainty (with William A. Klein), 1 Berkeley Business Law Journal 137–174 (2004).
Fraud by Hindsight (with Donald C. Langevoort & Jeffrey J. Rachlinski), 98 Northwestern Law Review 773–826 (2004).
Innovation in Boilerplate Contracts: An Empirical Examination of Sovereign Bonds (with Stephen J. Choi), 53 Emory Law Journal 929–996 (2004).
Sovereign Bonds and the Collective Will (with Lee Buchheit), Bank of England Proceedings of Conference on Sovereign Debt (2004).
Sovereign Debt Reform and the Best Interest of Creditors (with William W. Bratton), 57 Vanderbilt Law Review 1–79 (2004).
The Muddled Duty to Disclose Under Rule 10b-5 (with Donald C. Langevoort), 57 Vanderbilt Law Review 1639–1686 (2004).
How Do Judges Maximize? (The Same Way Everybody Else Does - Boundedly): Rules of Thumb in Securities Fraud Opinions (with Stephen M. Bainbridge), 51 Emory Law Journal 83–152 (2003).
Tenure (with Devon W. Carbado), 53 Journal of Legal Education 157–173 (2003).
The Law and Economics of Critical Race Theory (with Devon W. Carbado) (reviewing Francisco Valdes, Jerome McCristal Culp, & Angela P. Harris eds., Crossroads, Directions, and a New Critical Race Theory) 112 Yale Law Journal 1757–1828 (2003).
What Exactly is Racial Diversity? (with Devon W. Carbado) (reviewing Andrea Guerrero, Silence at Boalt Hall: The Dismantling of Affirmative Action) 91 California Law Review 1149–1165 (2003).
Why Lawyers Need to Take a Closer Look at Exit Consents (with Stephen Choi), 15 International Financial Law Review 15–18 (2003).
Giants in a World of Pygmies? Testing the Superstar Hypothesis with Judicial Opinions in Casebooks (with Veronica Sanchez), 87 Iowa Law Review 1141–1212 (2002).
Sovereign Bonds and the Collective Will (with Lee C. Buchheit), 51 Emory Law Journal 1317–1364 (2002).
What are Larry's Criteria For Good Corporate Law, 70 George Washington Law Review 886–889 (2002).
Interactions at Work: Remembering David Charny (with Devon W. Carbado), 17 Harvard Blackletter Law Journal 13–22 (2001).
Sovereign Piracy (with Kenneth N. Klee), 56 The Business Lawyer 635–652 (2001).
The Fifth Black Woman (with Devon W. Carbado), 11 Journal of Contemporary Legal Issues 701–730 (2001).
The Happy Charade: An Empirical Examination of the Third Year of Law School (with Richard Sander & Robert Sockloskie), 51 Journal of Legal Education 235–266 (2001).
What Law Students Think They Know About Elite Law Firms: Preliminary Results of a Survey of Third Year Law Students (with David B. Wilkins), 69 University of Cincinnati Law Review 1213–1256 (2001).
Connected Contracts (with William A. Klein & Eric M. Zolt), 47 UCLA Law Review 887–948 (2000).
Conversations at Work (with Devon W. Carbado), 79 Oregon Law Review 103–146 (2000).
Exit Consents in Sovereign Bond Exchanges (with Lee C. Buchheit), 48 UCLA Law Review 59–84 (2000).
Incorporating Labor, 22 Comparative Labor Law and Policy Journal 171–178 (2000).
When Corporate Managers Fear a Good Thing is Coming to an End: The Case of Interim Nondisclosure, Securities Law Review (2000).
Working Identity (with Devon W. Carbado), 85 Cornell Law Review 1259–1308 (2000).
Revisiting Kalyani, Former Agricultural Worker (with Leela Gulati), 34 Economic and Political Weekly 3668–3676 (1999).
When Corporate Managers Fear a Good Thing is Coming to an End: The Case of Interim Nondisclosure, 41 Corporate Practice Commentator 523 (1999).
Efficiency Wages, Tournaments and Discrimination: A Theory of Employment Discrimination Law for "High-Level" Jobs (with David Charny), 33 Harvard Civil Rights-Civil Liberties Law Review 57–106 (1998).
On Not Making Law (with C.M.A. McCauliff), 61 Law and Contemporary Problems 157–228 (1998).
Reconceiving the Tournament of Lawyers: Tracking, Seeding, and Information Control in the Internal Labor Markets of Elite Law Firms (with David B. Wilkins), 84 Virginia Law Review 1581–1682 (1998).
When Corporate Managers Fear a Good Thing is Coming to an End: The Case of Interim Nondisclosure, 46 UCLA Law Review 675–756 (1998).
Female Labour in the Unorganised Sector: The Brick Worker Revisited (with Leela Gulati), 32 Economic and Political Weekly 968–971 (1997).
Why are There so Few Black Lawyers in Corporate Law Firms? An Institutional Analysis (with David B. Wilkins), 84 California Law Review 493–626 (1996).
Passage Home to India, 6 Harvard Human Rights Journal 242–246 (1993).
Remnants of Matriliny: Widows of Two Kerala Villages (with Leela Gulati), 76 MANUSHI: Journal of Women & Society 32–34 (1993).
Reports & Datasets
The Role of the IMF in Future Sovereign Debt Restructurings: Report of the Annenberg House Expert Group (with Douglas G. Baird et al.), USC Law Legal Studies Paper (2013).
How Well do Measures of Ability Predict Judicial Performance?: A Case Study Using Securities Class Actions (with Stephen J. Choi & Eric A. Posner), University of Chicago Law and Economics Olin Working Paper Series No. 519 (2010).
Responsible Sovereign Lending and Borrowing (with Lee C. Buchheit)198 , United Nations Conference on Trade and Development Discussion Papers 1–32 (2010).
Op-Eds, Blogs, Shorter Works
Examining the wrinkles of the Russian assets set-off plan (with Ashley S. Deeks & Paul B. Stephan), Financial Times (FT.com) (April 12, 2024).
The Most Influential Judges Are Trump Appointees. Here’s How Democrats Can Respond. (with Stephen Choi & Micah J. Schwartzman), Slate (October 15, 2024).
What Should the Biden Administration Do With REPO? (with Ashley S. Deeks & Paul B. Stephan), Lawfare (May 6, 2024).
Green Bonds, Empty Promises (with Quinn Curtis & Mark C. Weidemaier) Oxford Business Law Blog (2023).
How Sri Lanka can uncover its mysterious legal adversary (with Ruth Mason), Financial Times (FT.com) (September 25, 2023).
The Puzzle of Diaspora Bonds: A Case Study of Israel's Program Credit Slips (2023).
Alphaville’s guide to seizing Russian assets (with Lee Buchheit), Financial Times (FT.com) (March 29, 2022).
Breaking the Sovereign Debt Impasse (with Lee Buchheit), Financial Times (FT.com) (September 26, 2022).
Co Authoring in Legal Academia Credit Slips (2022).
Confiscating Russian Assets (Now?) Credit Slips (2022).
Forced sovereign debt defaults (with Lee Buchheit), Financial Times (FT.com) (June 1, 2022).
How pro-business is the Roberts Court? (with Lee Epstein), Financial Times (FT.com) (August 9, 2022).
Pakistan’s deeply funky bonds (with Mark Weidemaier), Financial Times (FT.com) (October 31, 2022).
Putin's Booby-Trapped Bonds, Financial Times (FT.com) (April 28, 2022).
The fate of Ukraine’s debts (with Lee Buchheit), Financial Times (FT.com) (March 14, 2022).
Yehuda Adar on Contract Damages -- In a Bond Default Credit Slips (2022).
A green solution to sovereign debt restructuring (with Lee Buchheit), Financial Times (FT.com) (March 25, 2021).
Cheeky Cruise Company Lawyering, Credit Slips (July 11, 2021).
Born Out of Necessity: A Debt Standstill for COVID-19 (with Patrick Bolton et al.), Centre for Economic Policy Research Policy Insight (April, 2020).
Revisiting Sovereign Bankruptcy (with Lee C. Buchheit et al.), Brookings Institution (October, 2013).
The Power Five: Law as a Team Sport (with Tracey E. George & Albert Yoon) CLS Blue Sky Blog (2004).
Related Websites
Current Courses
All Courses
Contracts
International Debt Finance (and Sovereign Debt Crises)
Law, Economics and Politics
Identity, Politics and the Law
In the Media
(Clauses & Controversies )
(Clauses & Controversies)
Education
J.D.
,
Harvard Law School
,
1994
M.A.
,
Yale University
,
1991
A.B.
,
University of Chicago
,
1988
Expertise
- Sovereign debt
Featured Scholarship
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The number of law firm partners who identify as women has more than doubled since 1993. Will these gender parity advances regress as employers curb...
After two years of debate in Congress and the broader world over forfeiting the frozen assets of the Russian Central Bank for the benefit of Ukraine...
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