Quantity rationing of credit, when firms are denied loans, has greater potential to explain macroeconomic fluctuations … than borrowing costs. This paper develops a DSGE model with both types of financial frictions. A deterioration in credit … receiving financing, which leads to a persistent fall in real activity. Empirical evidence confirms that credit market …

We study the effects on credit allocation and bank stability of introducing a leverage ratio requirement (LRR) on top …

liberal world financial order at the turn of the millennium. The main aim is to analyse the credit risk associated with the … political and economic changes in Finnish society. <p> The evaluation of the credit risk mainly relies on exchange-rate risk …, Hamburg, Paris and London. In addition, it investigates Finland’s exposure to short-term debt and Moody’s credit ratings …

) ratings in IRBA models. A TTC rating would be based on the structural component of the debtor’s credit risk ignoring cyclical … fluctuations. This paper tests for the existence of such fluctuations in corporate sector credit risk and finds vietually no …

of capital requirements on the allocation of credit and its interaction with procyclicality, and compare Basel I and … Basel II type capital requirements. We consider competitive credit markets where entrepreneurs of varying ability can apply …

useful for estimating recovery rates required by many popular models of credit risk and for determining collateral haircuts …