Narrow search
Showing 1 - 10 of 1,656
Cover Image
Debt Portfolios
Hintermaier, Thomas - 2011
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...
Persistent link: https://www.econbiz.de/10013126139
Cover Image
Fiscal Policy, Sovereign Default, and Bailouts
Juessen, Falko - 2013
relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to … myopia, which induces default to be a relevant policy option and provides a rationale to constrain sovereign borrowing. We … close-to-default states. These bailouts can lead to an increase in the mean debt price and a lower default probability that …
Persistent link: https://www.econbiz.de/10013071428
Cover Image
Completing the Monetary Union of Europe as Mid-Term Solution of the Euro Crisis
Fischer, Justina A. V. - 2015
This research note discusses the Euro crisis in Greece in light of the referendum of July the 5th. It lays out the social and political costs of a GREXIT, but also of a continuing austerity policy. It proposes a reform policy fostering growth in Greece and discusses the role of conditionality....
Persistent link: https://www.econbiz.de/10013016262
Cover Image
Households Debt Restructuring : The Re-Default Effect of a Debt Suspension
Fraisse, Henri - 2017
filings to managers, we show that a debt suspension has a very significant and negative effect on the likelihood to re-default …
Persistent link: https://www.econbiz.de/10012946593
Cover Image
Displacement and Debt : The Role of Debt in Returning to Work in the Period Following the Great Recession
Bednarzik, Robert - 2017
The onset of the housing and subsequent financial crisis in 2008 marked the steepest economic downturn in the United. States, since the Great Depression in the late 1920s and 1930s. This most recent financial crisis has been characterized by massive layoffs and displacement. Given the depth of...
Persistent link: https://www.econbiz.de/10012956016
Cover Image
Till Debt Do Us Part : Strategic Divorces and a Test of Moral Hazard
Kim, Yeorim; Mastrogiacomo, Mauro; Hochguertel, Stefan; … - 2022
lender against borrower default and transfers the risk to the public. Divorce is one of the major events that obliges the …
Persistent link: https://www.econbiz.de/10013403720
Cover Image
Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
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 …
Persistent link: https://www.econbiz.de/10013128748
Cover Image
Government Deficit Shocks and Okun's Coefficient Volatility : New Insights on the Austerity Versus Growth Debate
Pham, Binh Thai - 2019
This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle phases (Gechert et al., 2019); (ii) Okun's coefficient is time varying and may be unstable. The intertwined dynamic behavior of fiscal shocks and unemployment-output trade-offs are...
Persistent link: https://www.econbiz.de/10012864881
Cover Image
Who Chooses Which Private Education? Theory and International Evidence
Bertola, Giuseppe - 2013
Private school students do not always perform better in standardized tests. We suggest that this may be explained by choice of private schooling by less capable students in countries where government schools are better suited to talented students. To assess the empirical relevance of this...
Persistent link: https://www.econbiz.de/10013080138
Cover Image
Product Market Regulation, Firm Size, Unemployment and Informality in Developing Economies
Charlot, Olivier - 2011
This paper studies the impact of product and labor market regulations on informality and unemployment in a general framework where formal and informal firms are subject to the same externalities, differing only with respect to some parameter values. Both formal and informal firms have monopoly...
Persistent link: https://www.econbiz.de/10013129903