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Global corporate stress tests : impact of the COVID-19 pandemic and policy responses

Tressel, Thierry; Ding, Xiaodan - 2021

Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability...

Persistent link: https://www.econbiz.de/10012605125

Evolution of bilateral swap lines

Perks, Michael; Rao, Yudong; Shin, Jongsoon; Tokuoka, Kiichi - 2021

This paper makes contributions to the study of bilateral swap lines (BSLs). First, this paper fills a BSL information gap by constructing a comprehensive database of BSLs based on publicly available information, including after the onset of the COVID-19 pandemic. Second, the paper provides the...

Persistent link: https://www.econbiz.de/10012605136

Corporate sector resilience in India in the wake of the COVID-19 shock

Górnicka, Lucyna; Ogawa, Sumiko; Xu, TengTeng - 2021

To assess the resilience of India's corporate sector against COVID-19-related shocks, we conducted a series of stress tests using firm-level corporate balance sheet data. The results reveal a differential impact across sectors, with the most severe impact on contact-intensive services,...

Persistent link: https://www.econbiz.de/10012795139

The distributional impact of recessions : the Global Financial Crisis and the Pandemic Recession

Shibata, Ippei - 2020

Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...

Persistent link: https://www.econbiz.de/10012251998

Structural changes in Japanese firms : business dynamism in an aging society

Hong, Gee Hee; Ito, Arata; Saito, Yukiko Umeno; Anh Thi … - 2020

The COVID-19 pandemic has posed a serious threat to the survival of Japanese firms, highlighting the importance of understanding how and why firms exit. In this paper, we use a rich firm-level dataset of Japanese firms to document how firm exit patterns have evolved between 2007 and 2017. Firm...

Persistent link: https://www.econbiz.de/10012302043

Globalization Drives Strategic Product Switching

Moreno Badia, Marialuz - 2008

Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm dynamics, considering both firm closedown and product switching. We contribute to the literature in two important ways: (1) this is the first paper to study the determinants of...

Persistent link: https://www.econbiz.de/10014401739

Transmission of financial stress in Europe : the pivotal role of Italy and Spain, but not Greece

González Hermosillo, Brenda; Johnson, Christian - 2014

Persistent link: https://www.econbiz.de/10010388660

Household wealth and resilience to financial shocks in Italy

Garcia-Macia, Daniel - 2018

High household wealth is often cited as a key strength of the Italian economy. Both in absolute terms and relative to income, the Italian household sector is wealthier than most euro area peers. A sizable fraction of this wealth is held by the rich and upper middle classes. This paper documents...

Persistent link: https://www.econbiz.de/10011905929

Banks, firms, and jobs

Berton, Fabio; Mocetti, Sauro; Presbitero, Andrea; … - 2017

We analyze the employment effects of financial shocks using a rich data set of job contracts, matched with the universe of firms and their lending banks in one Italian region. To isolate the effect of the financial shock we construct a firm-specific time-varying measure of credit supply. The...

Persistent link: https://www.econbiz.de/10011716594

Transmission of Financial Stress in Europe : The Pivotal Role of Italy and Spain, but not Greece

González-Hermosillo, Brenda - 2014

Germany, Greece, Ireland, Italy, Spain and Portugal. The stability of Germany is a close proxy for the resilience of the euro … during 2009–12 were due to idiosyncratic factors, market developments in Italy and Spain contributed significantly, likely …’s sovereign CDS despite initial widespread concerns about such linkages. Spain and Italy show a notable co-dependence in …

Persistent link: https://www.econbiz.de/10014411217

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