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Capital Flows, Cross-Border Banking and Global Liquidity
Bruno, Valentina - 2013
We investigate global factors associated with cross-border capital flows. We formulate a model of gross capital flows through the international banking system and derive a closed form solution that highlights the leverage cycle of global banks as being a prime determinant of the transmission of...
Persistent link: https://www.econbiz.de/10013082151
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Supply- and Demand-Side Factors in Global Banking
Amiti, Mary - 2017
What is the role for supply and demand forces in determining movements in international banking flows? Answering this question is crucial for understanding the international transmission of financial shocks and formulating policy. This paper addresses the question by using the method developed...
Persistent link: https://www.econbiz.de/10012953512
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Bank Resolution and the Structure of Global Banks
Bolton, Patrick - 2018
We study the resolution of global banks by national regulators. Single-point-of-entry (SPOE) resolution, where loss-absorbing capital is shared across jurisdictions, is efficient but may not be implementable. First, when expected transfers across jurisdictions are too asymmetric, national...
Persistent link: https://www.econbiz.de/10012916183
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Cash Holdings and Credit Risk
Acharya, Viral V. - 2011
liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …
Persistent link: https://www.econbiz.de/10013125920
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Reorganization or Liquidation : Bankruptcy Choice and Firm Dynamics
Corbae, Dean - 2017
In this paper, we ask how bankruptcy law affects the financial decisions of corporations and its implications for firm dynamics. According to current U.S. law, firms have two bankruptcy options: Chapter 7 liquidation and Chapter 11 reorganization. Using Compustat data, we first document capital...
Persistent link: https://www.econbiz.de/10012953996
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A Brazilian Debt-Crisis
Razin, Assaf; Sadka, Efraim - 2021
We develop a stylised model of multiple equilibria, with country risk spreads at the focus of the analysis. Fears that the country default on its debt triggers a reversal in the direction of inflows of international financial capital raise interest-rate spreads and thus the cost of servicing the...
Persistent link: https://www.econbiz.de/10013219683
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Liquidity, Institutional Quality and the Composition of International Equity Flows
Goldstein, Itay - 2010
economy-wide sales of external assets. Consistent with our theory, we find that the predicted liquidity shock has a strong … liquidity shocks, the liquidation price they can get will be lower when buyers know that they have more information on … expectation of future liquidity problems export relatively more FPI than FDI, and (2) this effect strengthens as the source …
Persistent link: https://www.econbiz.de/10013148094
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A Brazilian Debt-Crisis Model
Razin, Assaf; Sadka, Efraim - 2021
We develop a model that captures important features of debt crises of the Brazilian type. Its applicability to Brazil lies in the fact that (1) in Brazil the macro fundamentals were sound (e.g., a primary surplus, a relatively low debt/GDP ratio, etc.); and (2) in the Brazilian case the trigger...
Persistent link: https://www.econbiz.de/10013244094
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10013245510
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A Quantitative Model of Sudden Stops and External Liquidity Management
Caballero, Ricardo J.; Panageas, Stavros - 2021
liquidity and liability management more generally …
Persistent link: https://www.econbiz.de/10013228758