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-sector-time panels to assess how different funding structures are related to financial stress. A higher share of funding from non-bank …
Persistent link: https://www.econbiz.de/10014287355
repayments (default). Firms in Italy defaulted more against banks with high levels of past losses. We control for borrower … fundamentals with firm-quarter fixed effects; thus, identification comes from a firm's choice to default against one bank versus … bank relationships comes into doubt …
Persistent link: https://www.econbiz.de/10012456640
All economists should be conversant with "what happened?" during the financial crisis of 2007-2009. We select and summarize 16 documents, including academic papers and reports from regulatory and international agencies. This reading list covers the key facts and mechanisms in the build-up of...
Persistent link: https://www.econbiz.de/10012460883
Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank … regulatory agendas related to non-bank financial institutions …
Persistent link: https://www.econbiz.de/10014322743
This study introduces a real option model to investigate how fiscal policy affects a representative firm's investment decision and to measure its welfare effects. On the one hand, the effects of financial instability on the optimal investment timing and on the probability of default are studied....
Persistent link: https://www.econbiz.de/10012654165
In this article we use a stochastic model with one representative firm to study business tax policy under default risk. We will show that, for a given tax rate, the government has an incentive to reduce (increase) financial instability and default costs if its objective function is welfare (tax...
Persistent link: https://www.econbiz.de/10012006573
corporate bank debt based on a cross-country study for the United Kingdom (U.K.) and Germany.1 To this end, implied credit risk …
Persistent link: https://www.econbiz.de/10011862434
Under the Single Supervisory Mechanism (SSM) introduced in 2014, the European Central Bank directly supervises …
Persistent link: https://www.econbiz.de/10013415526