Similar Search Results

Beyond thirty : treasury issuance of long-term bonds from 1953 to 1965

Garbade, Kenneth D. - 2017

Ever since the emergence of regular and predictable issuance of coupon-bearing Treasury debt in the 1970s, thirty years has marked the outer boundary of Treasury bond maturities. However, longer-term bonds were not unknown in earlier years. Seven such bonds, including one with a forty-year term,...

Persistent link: https://www.econbiz.de/10011586602

Bank capital and value in the cross section

Mehran, Hamid; Thakor, Anjan V. - 2009

We address two questions: (i) Are bank capital structure and value correlated in the cross section, and if so, how? (ii) If bank capital does affect bank value, how are the components of bank value affected by capital? We first develop a dynamic model with a dissipative cost of bank capital that...

Persistent link: https://www.econbiz.de/10003947552

The shifting drivers of global liquidity

Avdjiev, Stefan; Gambacorta, Leonardo; Goldberg, Linda S.; … - 2017

The post-crisis period has seen a considerable shift in the composition and drivers of international bank lending and international bond issuance, the two main components of global liquidity. The sensitivity of both types of flows to U.S. monetary policy rose substantially in the immediate...

Persistent link: https://www.econbiz.de/10011671045

How and why do small firms manage interest rate risk? : evidence from commercial loans

Vickery, James (contributor) - 2005 - Rev. September 2006

Although small firms are particularly sensitive to interest rates and other external shocks, empirical work on corporate risk management has focused instead on large public companies. This paper studies fixed-rate and adjustable-rate loans to see how small firms manage their exposure to interest...

Persistent link: https://www.econbiz.de/10003090902

Gender and the availability of credit to privately held firms : evidence from the surveys of small business finances

Cole, Rebel A.; Mehran, Hamid - 2009

This study analyzes differences by gender in the ownership of privately held U.S. firms and examines the role of gender in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which span a period of sixteen years, we document a series of...

Persistent link: https://www.econbiz.de/10003947529

A simple model of subprime borrowers and credit growth

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2016

The surge in credit and house prices that preceded the Great Recession was particularly pronounced in ZIP codes with a higher fraction of subprime borrowers (Mian and Sufi 2009). We present a simple model of prime and subprime borrowers distributed across geographic locations, which can...

Persistent link: https://www.econbiz.de/10011419854

Financing private credit

Boyarchenko, Nina; Elias, Leonardo - 2024

Using data on balance sheets of both financial and nonfinancial sectors of the economy, we use a "demand system" approach to study how lender composition and willingness to provide credit affect the relationship between credit expansions and real activity. A key advantage of jointly modeling the...

Persistent link: https://www.econbiz.de/10014634857

The first debt ceiling crisis

Garbade, Kenneth D. - 2016

In the second half of 1953 the United States, for the first time, risked exceeding the statutory limit on Treasury debt. This paper describes how Congress, the White House, and Treasury officials dealt with the looming crisis - by deferring and reducing expenditures, monetizing "free" gold that...

Persistent link: https://www.econbiz.de/10011496869

How does for-profit college attendance affect student loans, defaults, and earnings?

Armona, Luis; Chakrabarti, Rajashri; Lovenheim, Michael F. - 2017

default than students attending similarly selective public schools. Because for-profit schools tend to serve students from … amounts, an increased likelihood of borrowing, an increased risk of default, and worse labor market outcomes. Two-year for …-profit students also take out more loans and have higher default rates and lower earnings. But they are more likely to graduate and to …

Persistent link: https://www.econbiz.de/10011638588

Have financial markets become more informative?

Bai, Jennie; Philippon, Thomas; Savov, Alexi - 2012

The finance industry has grown. Financial markets have become more liquid. Information technology has improved. But have prices become more informative? Using stock and bond prices to forecast earnings, we find that the information content of market prices has not increased since 1960. The...

Persistent link: https://www.econbiz.de/10009657611

1
2
3
4
5
6
7
8
Next
Last