We estimate empirically the impact of the insolvency and bankruptcy code (IBC) on corporate leverage in India. The analysis builds on the Prowess database. For the estimations we use the difference in differences approach, where listed firms are used as the control group. We find that the IBC...

We examine the effect of regional favoritism on firms’ access to credit. Using firm-level data on a large sample of 29,000 firms covering 48 countries, we investigate the hypothesis that access to credit of firms is higher in the birth regions of national political leaders. We find evidence...

We introduce shocks to the availability of US dollar funding for non-US financial intermediaries in a two-country New Keynesian model with financial frictions. Such dollar shortages lead to uncovered interest rate parity deviations and have a significant negative effects on the macroeconomy....

We estimate empirically the debt limits and debt capacity of listed manufacturing firms in Nigeria over the period 2005-2019. The analysis contributes to our understanding of the financial constraints of the firms, and their scope to absorb shocks and finance growth using the debt market. The...

We investigate whether the occurrence of elections affect access to credit for firms. We perform an investigation using firm-level data covering 44 developed and developing countries. We find that elections have a detrimental influence on access to credit: firms are more credit-constrained in...

How important is a relationship with a bank to a firm’s performance and survival? If firms can easily switch among different sources of credit supply, then the loss of any one source may have little implication for the firms that have borrowed from that source. However, to the extent that...

The Digital Economy Summer School will deal with some of the challenges that regulators and policy makers face due to this technological revolution. The program targets advanced undergraduate and graduate students, researchers and practitioners that want to understand how the so-called new...

The goal of this workshop is to discuss recent developments on the identification of the real effects of financial frictions. We are particularly interested in applied theoretical and empirical work using micro data on the interplay between financial institutions, financial shocks and their...

This workshop will bring together experts in banking, regulation, and financial economics to discuss the most recent academic research on financial intermediation. Topics: - Regulation of systemic risk, pro-cyclicality, capital and liquidity regulation, systemically relevant banks and...

The workshop in Science and Innovation will cover all areas of Economics of Science and Innovation, but it will put special emphasis on topics related to the financing of entrepreneurial firms. Topics of interest include, but are not limited to: - Funding new ideas - Entrepreneurial finance -...