tend not to face higher interest rates because they provide collateral. This paper illustrates these effects in a model and … entrepreneurship. -- Personal bankruptcy law ; insolvency ; entrepreneurship ; fresh start …

, depositors, and regulators in connection with bank insolvency may corrupt banks' credit allocation and monitoring decisions … insolvency has a cathartic effect using a large firm-level dataset and proposing a new indicator to measure the strength of …

concentration of the firm's debt. Firms with longer credit relationships, with higher average collateral ratios of their debt, and …

post. Secondary markets play a role in shaping the holdout costs facing the sovereign, and our results suggest that it is …

COVID-19 placed a special role to fiscal policy in rescuing companies short of liquidity from insolvency. In the first … focusing on firms’ pre-crisis financial standing, we estimate the extent to which the policy response induced an insolvency gap … measures being focused on smaller firms, we also examine whether this insolvency gap differs with respect to firm size. Based …

Many assets derive their value not only from future cash flows but also from their ability to serve as collateral. In … this paper, we investigate this collateral value and its impact on asset returns in an infinite-horizon general equilibrium … model with heterogeneous agents facing collateral constraints for borrowing. We document that borrowing against collateral …