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Changes in New Zealand's business insolvency rates after the GFC
Hall, Vivian Bruce; McDermott, C. John - In: New Zealand economic papers 55 (2021) 2, pp. 173-187
Persistent link: https://www.econbiz.de/10012623238
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A general equilibrium model with banks and default on loans
Takamura, Tamon - 2013
During the recent financial crisis in the U.S., banks reduced new business lending amidst concerns about borrowers' ability to repay. At the same time, firms facing higher borrowing costs alongside a worsening economic outlook reduced investment. To explain these aggregate business cycle...
Persistent link: https://www.econbiz.de/10009690835
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Macroeconomic Adjustment to the Lehman Shock in Japan
Asako, Kazumi - 2017
In this paper we overview the macroeconomic adjustment to the Lehman shock in Japan. After retrospecting the Japanese economy since the Plaza Accord which led Japan to the bubble economy and the ‘lost decade' we explain the business cycles in Japan and show related macroeconomic indicators...
Persistent link: https://www.econbiz.de/10012942730
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Overconsumption, credit rationing and bailout monetary policy : a Minskyan perspective
Charpe, Matthieu; Flaschel, Peter; Proaño Acosta, Christian - 2009
We consider a Keynes-Goodwin model of effective demand and the distributive cycle where workers purchase goods and houses with marginal propensity significantly larger than one. They therefore need credit, supplied from asset holders, and have to pay interest on their outstanding debt. In this...
Persistent link: https://www.econbiz.de/10003861624
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Firm exit and liquidity : evidence from the Great Recession
Leibovici, Fernando; Wiczer, David - 2024
This paper studies the role of credit constraints in accounting for the dynamics of firm exit during the Great Recession. We present novel firm-level evidence on the role of credit constraints on exit behavior during the Great Recession. Firms in financial distress, with tighter access to...
Persistent link: https://www.econbiz.de/10015080993
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How Can Economic Stochasticity Promote or Prevent Corporate Defaults?
Parnes, Dror - 2011
This study theoretically examines under what circumstances economic cycles advance or deter corporate defaults. We find that an ongoing catastrophe dominates other macroeconomic conditions and forces corporate failures. In contrast, when a catastrophe is unlikely, a constant economy permits...
Persistent link: https://www.econbiz.de/10013133440
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Mitigating Recessions : Incorporating Macroeconomic Levers into Bankruptcy Law in India
Agarwal, Anant - 2022
The role of Insolvency and Bankruptcy Code, 2016 in India, as foreseen by the Bankruptcy Law Reforms Committee Report … Insolvency and Bankruptcy Code, 2016 desperately for insolvency resolution, the Government of India suspended the filing of any … new insolvency cases through the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020. This was done mainly to save …
Persistent link: https://www.econbiz.de/10013314149
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When companies don’t die : analyzing zombie firms in a low interest rate environment
De Martiis, Angela; Peter, Franziska Julia - In: Aussenwirtschaft : schweizerische Zeitschrift für … 73 (2023) 1, pp. 67-86
We examine whether low interest rates foster non-viable firms in Europe by analyzing two classes of firms: zombies and distressed. Controlling for the business cycle and recession periods, we find a significantly negative effect of short-term rates on the likelihood of being a zombie, while no...
Persistent link: https://www.econbiz.de/10014531052
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Regional Business Cycles in New Zealand : Do They Exist? What Might Drive Them?
Hall, Viv - 2006
We use National Bank of New Zealand Regional Economic Activity data, to identify and characterise classical business cycle turning points, for New Zealand's 14 regions and aggregate New Zealand activity. Using Concordance statistic measures, logistic model and GMM estimation methods, meaningful...
Persistent link: https://www.econbiz.de/10012733377
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Larger Crises, Slower Recoveries : The Asymmetric Effects of Financial Frictions
Research Department, Federal Reserve Bank of Minneapolis - 2009
It is well known that movements in lending rates are asymmetric; they rise quickly and sharply, but fall slowly and gradually. Not known is the fact that the asymmetry is stronger the less developed a country's financial system is. This new fact is here documented and explained in a model with an...
Persistent link: https://www.econbiz.de/10013157630