This article deals with firms’ defaults and empirically tests its key macroeconomic determinants. The conducted empirical analysis employs quarterly time series of the number of insolvency petitions filed in the period 1996-2009. The obtained results point out prediction ability of the growth...

The importance of the products and services prices can be found in the reference price, that customer must compare it with the price of the last made acquisition. The price of the banking product, that includes the effective annual intrestrate (EAI), is a guide price including all the cost...

In this paper we analyze the impacts of some changes in tax and credit policies on informal business in Brazil. To do this, we use a computable general equilibrium approach. The main findings shows that a reduction in 1% of tax rates on production or on labor income or capital income can reduce...

This paper examines empirically the effects of multiple banking relationships on the cost and availability of credit. The analysis is based on an unbalanced panel data set for Japanese small and medium-sized firms over the period 2000–2002. The Hausman-Taylor estimator is used to allow for...

This paper evaluates from a microeconomic perspective the lending cost determinants in the Peruvian banking system in the June 2004-December 2005 period. The evaluation considers the credit market segments identified in a prior study (published in 2002). Furthermore, it reviews the progress...

This paper examines Peru’s 2004 Article IV Consultation, Fourth Review Under the Stand-By Arrangement, and Request for Waiver of Nonobservance of Performance Criterion. In 2003, Peru’s real GDP grew by 4 percent, with inflation of 2.5 percent and a further strengthening of the...