How does small-firm employment respond to exogenous labor productivity risk? We find that this depends on the … depends on the weather. Weather risk reduces this employment, and the effect is stronger in regions where the regional banks … liquidity when the regions are hit by weather shocks. We argue that, as liquidity providers, well-capitalized banks support …

themselves in a position in which their liquidity is suddenly called back by the lender. This has direct consequences on a firm … existing jobs. We argue that with well-developed capital markets, firms will have an incentive to rely more on liquidity, and … in normal times deep capital markets lead to tight labor markets. After an adverse liquidity shock, firms that rely much …

The risk of default that business firms face is very significant and differs widely across countries. This paper … explores the links between countries' business conditions and international trade embedment and the default risk at the country … default risk of firms which operate in these environments. The predictions are in accord with readily available data. -- firm …

and price of unsecured debt. -- household debt portfolios ; housing ; collateral ; bankruptcy ; commitment ; income risk …

national security as of March 2022. Fourth, firm-level risk perceptions skewed heavily to the downside in spring 2020 but …