financial market segmentation. If we enrich the set of observables with a measure of long-term debt, the semi-elasticity of the … risk premium to the amount of debt in private-sector hands is substantially smaller than that reported in the recent …

(NPV) projects as given, which in turn determines the size of the firm’s assets. The focus is on the composition of equity … and debt in funding such assets. In contrast, the balance sheet management of financial intermediaries reveals that it is … equity that behaves like the predetermined variable, and the asset size of the bank or financial intermediary is determined …

Credit Panel (CCP). Moments of the borrower and lender debt distributions are compared by year, age of household head …, household size, and region of the country, in total and across five standard debt categories. The debt reports are strikingly … research questions survey respondents’ propensity and ability to report debt characteristics accurately. We compare household …