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The literature on corporate credit risk modeling for privately-held firms is scarce. Although firms with unlisted equity or debt represent a significant fraction of the corporate sector worldwide, research in this area has been hampered by the unavailability of public data. This study is an...
Persistent link: https://www.econbiz.de/10005413176
equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …
Persistent link: https://www.econbiz.de/10005124935
The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …
Persistent link: https://www.econbiz.de/10005556071
economies of the G7 countries. We first prove that nominal interest and inflation rate can be better represented as being broken …
Persistent link: https://www.econbiz.de/10005556324
The IMF classifications of the Central and Eastern European exchange rate arrangements are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent discussion about the accuracy of...
Persistent link: https://www.econbiz.de/10005556602
equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …
Persistent link: https://www.econbiz.de/10005556635
Inflation can alter the characteristics of tax- and contribution systems in numerous ways. This paper demonstrates how … inflation alters the distributive properties of nominally defined tax systems and looks at the impact of the tax revenues and … comparisons of the distributive consequences of the inflation induced erosion of tax- band limits, thresholds, deductions, tax …
Persistent link: https://www.econbiz.de/10005560980
controls were essentially ineffective in reducing inflation. …
Persistent link: https://www.econbiz.de/10005561070
This paper discusses the econometric model of inflation processes in the Republic of Belarus which makes it possible to …
Persistent link: https://www.econbiz.de/10005561160
This paper examines the long-run effects of supply shocks (such as oil shocks) on inflation in the United States. The … persistence of supply shocks in U.S. inflation fell considerably during the period of Volcker’s disinflation (1979-1982). My … the behavior of inflation expectations - agents expected shocks to persist in the pre-Volcker period, but not in the post …
Persistent link: https://www.econbiz.de/10005561182