This paper examines the use of credit derivatives by US bank holding companies from 1999 to 2003 with assets in excess … only 19 large banks out of 345 use credit derivatives. Though few banks use credit derivatives, the assets of these banks … buyers of credit protection and disclose using credit derivatives to hedge loans. Banks are more likely to be net protection …

financial systems around the world. The database provides information on financial systems in 205 economies over the period from …

We develop a structural credit risk model to examine how the interactions of liquidity and default risk affect …. Across different credit ratings, our calibrated model can simultaneously match the average default probabilities, credit … decomposition, we show that the interactions between liquidity and default risk account for 25∼40% of the observed credit spreads …

random and therefore create liquidity risk, which in turn determines the supply of credit and the money multiplier. We study … important role of disruptions in interbank markets, followed by a persistent credit demand shock. …

, as measured by companies’ credit default swap prices and accounting data. Analyzing responses to job postings by major …

Over-the-counter (OTC) stocks are far less liquid, disclose less information, and exhibit lower institutional holdings … are largest among stocks held predominantly by retail investors and those not disclosing financial information. Theories …

conclude that an important reason why firms exist is the private information that derives from the firm's ability to better …

We use an extensive data set of bilateral exposures on credit default swap (CDS) to estimate the impact on collateral …