Narrow search
Showing 1 - 10 of 265
Cover Image
Financial Risk Capacity
Bigio, Saki - 2019
Financial crises are particularly severe and lengthy when banks fail to recapitalize after bearing large losses. We present a model that explains the slow recovery of bank capital and economic activity. Banks provide intermediation in markets with information asymmetries. Large equity losses...
Persistent link: https://www.econbiz.de/10012480505
Cover Image
Financing Durable Assets
Rampini, Adriano A. - 2016
This paper studies the effect of durability on the financing of durable assets. We show that more durable assets … the price of an asset and hence the overall financing need more than its collateral value. This insight has implications … dominated technologies. More durable assets are more likely to be rented given their larger financing need. Legal enforcement …
Persistent link: https://www.econbiz.de/10012271598
Cover Image
Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
Axelson, Ulf - 2010
on the financing of 1157 worldwide private equity deals from 1980 to 2008. Buyout leverage is cross-sectionally unrelated … availability of financing impacts booms and busts in the private equity market, and that agency problems between private equity …
Persistent link: https://www.econbiz.de/10012462699
Cover Image
Credit within the firm
Pistaferri, Luigi - 2010
We exploit time variation in the degree of development of local credit markets and matched employer-employee data to assess the role of the firm as an internal credit market. In less developed local credit markets firms can offer a flatter wage-tenure profile than firms in more developed credit...
Persistent link: https://www.econbiz.de/10012462727
Cover Image
Decoupling and Recoupling
Korinek, Anton - 2010
We develop a stylized model that captures the phenomena of decoupling and recoupling in an environment where heterogeneous entrepreneurial sectors face financial constraints in their relationship with a common set of lenders. In response to adverse shocks, a financially constrained sector must...
Persistent link: https://www.econbiz.de/10012462744
Cover Image
Household Leverage and the Recession of 2007 to 2009
Mian, Atif R. - 2010
We show that household leverage as of 2006 is a powerful statistical predictor of the severity of the 2007 to 2009 recession across U.S. counties. Counties in the U.S. that experienced a large increase in household leverage from 2002 to 2006 showed a sharp relative decline in durable consumption...
Persistent link: https://www.econbiz.de/10012462755
Cover Image
Corporate Bond Default Risk : A 150-Year Perspective
Giesecke, Kay - 2010
We study corporate bond default rates using an extensive new data set spanning the 1866-2008 period. We find that the corporate bond market has repeatedly suffered clustered default events much worse than those experienced during the Great Depression. For example, during the railroad crisis of...
Persistent link: https://www.econbiz.de/10012462804
Cover Image
The Consequences of Entrepreneurial Finance : A Regression Discontinuity Analysis
Kerr, William R. - 2010
access to additional financing. Overall, the results suggest that the bundle of inputs that angel investors provide have a …
Persistent link: https://www.econbiz.de/10012462820
Cover Image
The Influence of the Home Owners' Loan Corporation on Housing Markets During the 1930s
Fishback, Price V. - 2010
Problems with mortgage financing are widely considered to be a major cause of the recent financial meltdown. Several …
Persistent link: https://www.econbiz.de/10012462827
Cover Image
"Unfunded Liabilities" and Uncertain Fiscal Financing
Davig, Troy - 2010
We develop a rational expectations framework to study the consequences of alternative means to resolve the "unfunded liabilities'' problem---unsustainable exponential growth in federal Social Security, Medicare, and Medicaid spending with no plan to finance it. Resolution requires specifying a...
Persistent link: https://www.econbiz.de/10012462870