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Democratic development and credit : "Democracy doesn't come cheap" but at least credit to its corporations will be
Delēs, Manthos D.; Hasan, Iftekhar; Ongena, Steven - 2017
Does democratization reduce the cost of credit? Using global syndicated loan data from 1984 to 2014, we find that … democratization has a sizeable negative effect on loan spreads: a one-point increase in the zero-to-ten Polity IV index of democracy … democratization, and to a battery of other sensitivity tests. We thus highlight the lower cost of loans as one relevant mechanism …
Persistent link: https://www.econbiz.de/10011761252
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Risk premia on credit and equity markets
Berg, Tobias - 2009
Persistent link: https://www.econbiz.de/10003923479
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Does Oil Hinder Democratic Development? A Time-Series Analysis
O'Connor, Kelsey - 2016
multiple time-series estimation strategies. We find no robust long-run effect of oil rents per capita on Polity, Civil …
Persistent link: https://www.econbiz.de/10012996271
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Credit risk spreads in local and foreign currencies
Galai, Dan; Wiener, Zvi - 2009
Persistent link: https://www.econbiz.de/10003883138
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Monetary policy and real borrowing costs at the zero lower bound
Gilchrist, Simon; López-Salido, José David; … - 2013
Persistent link: https://www.econbiz.de/10010432453
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Monetary policy and real borrowing costs at the zero lower bound
Gilchrist, Simon; López-Salido, José David; … - 2014
Persistent link: https://www.econbiz.de/10010433409
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Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
Gilchrist, Simon - 2014
This paper compares the effects of conventional monetary policy on real borrowing costs with those of the unconventional measures employed after the target federal funds rate hit the zero lower bound (ZLB). For the ZLB period, we identify two policy surprises: changes in the 2-year Treasury...
Persistent link: https://www.econbiz.de/10013052890
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Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
Gilchrist, Simon - 2014
This paper compares the effects of conventional monetary policy on real borrowing costs with those of the unconventional measures employed after the target federal funds rate hit the zero lower bound (ZLB). For the ZLB period, we identify two policy surprises: changes in the 2-year Treasury...
Persistent link: https://www.econbiz.de/10013054511
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Monetary Policy and Real Borrowing Costs at the Zero Lower Bound
Gilchrist, Simon - 2014
This paper compares the effects of conventional monetary policy on real borrowing costs with those of the unconventional measures employed after the target federal funds rate hit the zero lower bound (ZLB). For the ZLB period, we identify two policy surprises: changes in the 2-year Treasury...
Persistent link: https://www.econbiz.de/10013059451
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The cost of debt capital revisited
Baule, Rainer - In: Business research 12 (2019) 2, pp. 721-753
We propose a method to estimate the cost of debt in a continuous-time framework with an infinite time horizon. The approach builds on the class of well-known earnings before interest and taxes (EBIT)-based models. It extends other approaches based on option-pricing theory with a finite...
Persistent link: https://www.econbiz.de/10012256381