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An Economic Analysis of Transnational Bankruptcies
Bebchuk, Lucian Arye - 2000
This paper analyzes the effects of the legal rules governing transnational bankruptcies. We compare a regime of territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy -- with a regime of universality are adjudicated in a...
Persistent link: https://www.econbiz.de/10012471197
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
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A dynamic look at subprime loan performance
Danis, Michelle A. (contributor);  … - 2005
"This paper examines the implications of delinquency on the performance of subprime mortgages. Specifically, we examine whether delinquency has any predictive power of the future performance of a mortgage. Using a sample of subprime mortgages from the loan performance database on securitized...
Persistent link: https://www.econbiz.de/10002977392
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Special Purpose Vehicles and Securitization
Gorton, Gary - 2005
Firms can finance themselves on- or off-balance sheet. Off-balance sheet financing involves transferring assets to "special purpose vehicles" (SPVs), following accounting and regulatory rules that circumscribe relations between the sponsoring firm and the SPVs. SPVs are carefully designed to...
Persistent link: https://www.econbiz.de/10012467495
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One Reason Countries Pay their Debts : Renegotiation and International Trade
Rose, Andrew K. - 2002
This paper estimates the effect of sovereign debt renegotiation on international trade. Sovereign default may be associated with a subsequent decline in international trade either because creditors want to deter default by debtors, or because trade finance dries up after default. To estimate the...
Persistent link: https://www.econbiz.de/10012469862
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When Is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads
Bai, Jennie - 2012
When a sovereign faces the risk of debt default, it may be tempted to expropriate the private sector. This may be one reason for why international investment in private companies has to take into account the sovereign risk. But the likelihood of a transfer from the sovereign risk to corporate...
Persistent link: https://www.econbiz.de/10012460062
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The Making of the Modern Metropolis : Evidence from London
Heblich, Stephan - 2018
railways, newly-constructed spatially-disaggregated data for London from 1801-1921, and a quantitative urban model to provide … buildings in Greater London by 20 percent or more, and brings down commuting into the City of London from more than 370,000 to …
Persistent link: https://www.econbiz.de/10012480700
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London Fog : A Century of Pollution and Mortality, 1866-1965
Hanlon, W. Walker - 2018
This study provides new evidence on the impact of air pollution in London over the century from 1866-1965. To identify … weeks with elevated pollution levels I use new data tracking the timing of London's famous fog events, which trapped … exposure due to fog events accounted for at least one out of every 200 deaths in London during this century. I provide evidence …
Persistent link: https://www.econbiz.de/10012453227
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Did the Reform Fix the London Fix Problem?
Ito, Takatoshi - 2017
This paper examines the consequences of the 2015 reform on the London fixing in the interbank forex market, which …
Persistent link: https://www.econbiz.de/10012455354
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The Economic Consequences of the 1953 London Debt Agreement
Galofré-Vilà, Gregori - 2016
West Germany's external debt and create a series of favourable debt repayment conditions. The London Debt Agreement (LDA …
Persistent link: https://www.econbiz.de/10012456122