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The main purpose of this study is to examine the determinants of the corporate choice between different forms of debt financing. By analyzing the most comprehensive sample of U.S. corporate debt issues to date, I find that firms that issue 144A debt have significantly lower credit quality and...
Persistent link: https://www.econbiz.de/10009484536
Uses the tools of macroeconomics to study three macroeconomic policy problems in depth. Possible topics include long-run economic growth, the macroeconomics of the transition to a modern capitalist society, federal government surpluses and deficits, Social Security, the distribution of earnings...
Persistent link: https://www.econbiz.de/10009433209
There are three reasons for attempting to reach a common understanding of the responsibilities of sovereign borrowers and their lenders. First, the flow of capital to sovereign debtors is exceptionally important to the world economy. Industrialized countries rely on it to finance their budget...
Persistent link: https://www.econbiz.de/10009471550
Es ist noch immer nicht endgültig geklärt, wie fiskalische Dezentralisierung die Höhe und Struktur der öffentlichen Ausgaben beeinflusst. Diese Dissertation analysiert daher zwei zusammenhängende Fragen. Erstens werden die Auswirkungen der fiskalischen Dezentralisierung auf die...
Persistent link: https://www.econbiz.de/10009476259
The paper will begin with a brief review of the employment concepts and measures underlying all of the employment estimates appearing in this paper and the data sources used to generate these teen employment rate estimates. Trends in the employment rates of the teens of the nation from the...
Persistent link: https://www.econbiz.de/10009460811
Financialization is a process whereby financial markets, financial institutions and financial elites gain greater … influence over economic policy and economic outcomes. Financialization transforms the functioning of economic system at both the … contribute to wage stagnation. Additionally, there are reasons to believe that financialization may render the economy prone to …
Persistent link: https://www.econbiz.de/10009467755
Recent research has explored the growing ‘financialization’ process in the U.S. and other advanced economies. The term … explore the relationship between financialization in the U.S economy and real investment at the firm level. Using data from a … financialization. First, increased financial investment and increased financial profit opportunities may have crowded out real …
Persistent link: https://www.econbiz.de/10009467773
dynamics, fluctuate around the long waves. The second essay,“Macroeconomic Implications of Financialization,” examines …
Persistent link: https://www.econbiz.de/10009467960