Similar Search Results

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out

Broner, Fernando; Erce, Aitor; Martin, Alberto; … - International Monetary Fund (IMF) - 2013

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

Persistent link: https://www.econbiz.de/10010790241

Uncertainty and Investment: The Financial Intermediary Balance Sheet Channel

Chen, Sophia - International Monetary Fund (IMF) - 2015

Rollover risk imposes market discipline on banksâ€™ risk-taking behavior but it can be socially costly. I present a two-sided model in which a bank simultaneously lends to a firm and borrows from the short-term funding market. When the bank is capital constrained, uncertainty in asset...

Persistent link: https://www.econbiz.de/10011242305

The Tax-adjusted Q Model with Intangible Assets: Theory and Evidence from Temporary Investment Tax Incentives

Chen, Sophia; Dauchy, Estelle - International Monetary Fund (IMF) - 2014

intangible intensity. We estimate our model using temporary investment tax incentive policies in the United States in the early … 2000s. When the q-model accounts for intangible assets, the estimated investment elasticity to tax incentives is generally …

Persistent link: https://www.econbiz.de/10011142115