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Business Failures by Industry in the United States, 1895 to 1939 : A Statistical History
Richardson, Gary - 2011
Dun's Review began publishing monthly data on bankruptcies by branch of business during the 1890s. This essay reconstructs that series, links it to its successors, and discusses how it can be used for economic analysis
Persistent link: https://www.econbiz.de/10013128597
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Can the Covid Bailouts Save the Economy?
Elenev, Vadim - 2020
The covid-19 crisis has led to a sharp deterioration in firm and bank balance sheets. The government has responded with a massive intervention in corporate credit markets. We study equilibrium dynamics of macroeconomic quantities and prices, and how they are affected by government policy. The...
Persistent link: https://www.econbiz.de/10012833129
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U.S. Job Flows and the China Shock
Asquith, Brian - 2017
International trade exposure affects job creation and destruction along the intensive margin (job flows due to expansions and contractions of firms' employment) as well as along the extensive margin (job flows due to births and deaths of firms). This paper uses 1992-2011 employment data from the...
Persistent link: https://www.econbiz.de/10012941975
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Do Airlines in Chapter 11 Harm Their Rivals? Bankruptcy and Pricing Behavior in U.S. Airline Markets
Borenstein, Severin; Rose, Nancy L. - 2021
The behavior of firms in financial distress has attracted considerable academic and policy interest in recent years. The turmoil in the U.S. airline industry has triggered much of the public policy discussion, as some observers have argued that airlines in financial distress, particularly those...
Persistent link: https://www.econbiz.de/10013232906
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Adjusting to Trade Policy : Evidence from U.S. Antidumping Duties on Vietnamese Catfish
Brambilla, Irene - 2013
In 2003, after claims of dumping, the U.S. imposed heavy tariffs on imports of catfish from Vietnam. As a result, Vietnamese exports of catfish to the U.S. market sharply declined. Using a panel data of Vietnamese households, we explore the responses of catfish producers in the Mekong delta...
Persistent link: https://www.econbiz.de/10012753317
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Bankruptcy and Investment : Evidence from Changes in Marital Property Laws in the U.S. South, 1840-1850
Koudijs, Peter - 2016
married women's property from seizure in the case of insolvency, amending the common law default which vested a wife …
Persistent link: https://www.econbiz.de/10012999467
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Should Derivatives Be Privileged in Bankruptcy?
Bolton, Patrick - 2011
Derivative contracts, swaps, and repos enjoy "super-senior" status in bankruptcy: they are exempt from the automatic stay on debt and collateral collection that applies to virtually all other claims. We propose a simple corporate finance model to assess the effect of this exemption on firms'...
Persistent link: https://www.econbiz.de/10013118249
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A Model of Mortgage Default
Campbell, John Y. - 2011
This paper solves a dynamic model of a household's decision to default on its mortgage, taking into account labor income, house price, inflation, and interest rate risk. Mortgage default is triggered by negative home equity, which results from declining house prices in a low inflation...
Persistent link: https://www.econbiz.de/10013119572
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Firm Heterogeneity, Endogenous Entry, and the Business Cycle
Ottaviano, Gianmarco I.P. - 2011
This paper investigates the role that the entry and exit of heterogeneous firms plays in shaping aggregate fluctuations in economic activity. In so doing, it develops a dynamic stochastic general equilibrium model in which procyclical entry and countercyclical exit along a real business cycle...
Persistent link: https://www.econbiz.de/10013120283
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Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory?
Hovakimian, Armen - 2011
Default probability plays a central role in the static tradeoff theory of capital structure. We directly test this … theory by regressing the probability of default on proxies for costs and benefits of debt. Contrary to predictions of the … theory, firms with higher bankruptcy costs, i.e., smaller firms and firms with lower asset tangibility, choose capital …
Persistent link: https://www.econbiz.de/10013121593