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Disposal is not free : fiscal instruments to internalize the environmental costs of solid waste
Matheson, Thornton - 2019
This paper provides an overview of global solid waste generation, its environmental costs, and fiscal instruments that can be used to encourage waste reduction and finance proper disposal. Countries-especially island nations--struggle to manage an ever-increasing volume of solid waste,...
Persistent link: https://www.econbiz.de/10012155061
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The COVID-19 impact on corporate leverage and financial fragility
Haque, Sharjil Muktafi; Varghese, Richard - 2021
We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...
Persistent link: https://www.econbiz.de/10012796218
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Constrained efficient borrowing with sovereign default risk
Hatchondo, Juan Carlos; Martinez, Leonardo; Roch, Francisco - 2020
Persistent link: https://www.econbiz.de/10012392477
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Cross-border credit intermediation and domestic liquidity provision in a small open economy
Thorvardur Tjörvi Ólafsson - 2018
This paper develops a small open economy model where global and domestic liquidity is intermediated to the corporate … to entrepreneurs and commercial banks intermediate domestic savings to liquidity constrained final good producers. Both … dynamics, global liquidity spillovers, domestic money market pressures, and macrofinancial linkages through which shocks …
Persistent link: https://www.econbiz.de/10011932538
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Liquidity choice and misallocation of credit
Ebrahimy, Ehsan - 2019
This paper studies a novel type of misallocation of credit between investments of varying liquidity. One type of …-term welfare and output in a constrained inefficient equilibrium if it raises the liquidity of the liquid type. I show a maximum …
Persistent link: https://www.econbiz.de/10012155067
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Structuring and Restructuring Sovereign Debt : The Role of a Bankruptcy Regime
Bolton, Patrick - 2007
In an environment characterized by weak contractual enforcement, sovereign lenders can enhance the likelihood of repayment by making their claims more difficult to restructure ex post. We show however, that competition for repayment among lenders may result in a sovereign debt that is...
Persistent link: https://www.econbiz.de/10014400323
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Capital Flows and the Twin Crises : The Role of Liquidity
Goldfajn, Ilan - 1997
This paper develops a model that focuses on the interaction of liquidity creation by financial intermediaries with …
Persistent link: https://www.econbiz.de/10014400378
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Global Liquidity : Availability of Funds for Safe and Risky Assets
Matsumoto, Akito - 2011
What is global liquidity and how does it affect an economy? The paper addresses that question by looking at liquidity … from two different perspectives: global liquidity as availability of funds in safe and risky asset markets. This … policy to restore a function of risky asset markets. To analyze the effect of global liquidity, I construct proxy variables …
Persistent link: https://www.econbiz.de/10014399252
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Costly Collateral and the Public Supply of Liquidity
Schellekens, Philip - 2000
constraints that, under certain conditions, justify the public supply of liquidity. The paper suggests applications with respect …
Persistent link: https://www.econbiz.de/10014399928
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Valuation of Menu items in Debt Restructuring
International Monetary Fund - 1989
This paper outlines a procedure for calculating the cash value of “menu items” in debt restructuring proposals, including par and non-par exchanges, with enhancements consisting of either interest or principal guarantees. It is argued that under certain plausible assumptions interest and...
Persistent link: https://www.econbiz.de/10014396239