Showing 1 - 10 of 220
This paper examines the potential distortion of prices in the CDS marketcaused by too-big-to-fail. Overall, we find evidence for market discipline inthe CDS market. However, CDS prices are distorted due to a size effect whicharises when investors expect a public bail-out as a result of...
Persistent link: https://www.econbiz.de/10005866274
This paper reviews the stylized facts regarding the distribution of human capital investments and the returns to those investments in developing countries. It then examines recent evidence regarding which policies can induce increased human capital investments in the most efficient manner, using...
Persistent link: https://www.econbiz.de/10009360848
This paper considers the currency composition of sovereign debt in the context of risksharingthrough excusable defaults. It is shown that monetary credibility is not asufficient condition for borrowing in domestic currency. With real exchange rate risk,debt denominated in a borrowing country’s...
Persistent link: https://www.econbiz.de/10005868758
In the era of Basel II a powerful tool for bankruptcy prognosis isvital for banks. The tool must be precise but also easily adaptable tothe bank's objections regarding the relation of false acceptances (TypeI error) and false rejections (Type II error). We explore the suitabil-ity of Smooth...
Persistent link: https://www.econbiz.de/10005860752
Jahresabschlüssen von Kapitalgesellschaften abgeleitet werden können. In der aktuellen Praxis der empirischen Insolvenz- und …
Persistent link: https://www.econbiz.de/10005860996
machine, and a non-parametric technique for mapping rating scores into probabilities of default. We give an introduction to …
Persistent link: https://www.econbiz.de/10005861009
Predicting default probabilities is important for firms and banks to operate successfully and to estimate their … propose the so called Support Vector Machine (SVM) to estimate default probabilities of German firms. Our analysis is based on … inventories. Based on the performance measures, the SVMtool can predict a firms default risk and identify the insolvent firm more …
Persistent link: https://www.econbiz.de/10005861245
Die Daten zur wirtschaftlichen Situation in Berlin sind miserabel um nicht zu sagenkatastrophal. Noch glänzt die äußere Hülle der Hauptstadt, aber unter der Glitzerfassadesieht es nicht gut aus. Berlin steckt nicht nur finanziell in einer tiefen Krise, sondernauch politisch, wirtschaftlich...
Persistent link: https://www.econbiz.de/10005865788
Amidst a sharp increase in household debt levels, many countries have substantially reformedtheir consumer bankruptcy regulations. I first classify the mechanisms triggered by current U.S.and European bankruptcy regulations and then evaluate these mechanisms within a hidden actionmodel. I...
Persistent link: https://www.econbiz.de/10005866701
(re-)designing or reforming the insolvency regime of a country in the transition process.There, the author intends to … insolvency regime and to offer guidelines thatsupport good practise standards in the countries in question. Furthermore, the … paperattempts to articulate a comprehensive statement about the various and competinggoals that underlie the insolvency system …
Persistent link: https://www.econbiz.de/10005866992