The paper evaluates how increases in banks’ and nonfinancial corporates’ default risk are transmitted in the global …

economies suggests that the sustainability of exchange rate policy depends both on adequate policy responses to the shocks to …

This paper proposes an approach to track US$1 trillion of emerging market government debt held by foreign investors in … to assess countries’ sensitivity to external funding shocks and to track foreign investors’ exposures to different …

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by …

We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest … increased moderately. This de-leveraging effect is stronger for firms exposed to significant rollover risk, while firms whose …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of … Distress'. Overall, most U.S. mutual funds are resilient yet high yield (HY) and loan funds would face a liquidity shortfall … when faced with severe redemption shocks. Combined sales from funds can have a sizeable price impact. Finally, our …