Showing 1 - 10 of 391
This paper uses a dataset from one of the largest credit card issuers in Brazil to investigate the extent of credit constraints for one of the world's largest emerging market economies. In order to deal with the endogeneity problem from an observational dataset, an identification strategy based...
Persistent link: https://www.econbiz.de/10013466649
Many countries offer state credit guarantees to support credit-constrained exporters. The policy instrument is commonly justified by governments as a means to mitigating adverse outcomes of financial market frictions for exporting firms. Accumulated returns to the German state credit guarantee...
Persistent link: https://www.econbiz.de/10014503589
We use a comprehensive Swedish credit register to document that firms throughout the size distribution have access to fairly large and reasonably priced credit lines, but borrow relatively little from them. We rationalize this using a theoretical framework in which the expected cost of financial...
Persistent link: https://www.econbiz.de/10014564040
This study uses newly available enterprise level data for firms from manufacturing industries in Germany to test for the link between credit constraints, measured by a credit rating score from the leading credit rating agency Creditreform, and exports. In line with hypotheses from theoretical...
Persistent link: https://www.econbiz.de/10010294489
The aim of this paper is to understand what a recession means for individual consumers, and to model in a life-cycle framework how individuals respond to recessions. Our focus is on the sharp increase in savings rates that have been observed in the current and recent recessions. We show...
Persistent link: https://www.econbiz.de/10010331007
Business managers are well aware of the fact that credit constraints can hamper or even prevent exporting. Economists only recently started to incorporate these arguments in theoretical models of heterogeneous firms and to test the implications of these models econometrically with firm-level...
Persistent link: https://www.econbiz.de/10010333503
This study uses tailor made enterprise level data from various sources for firms from manufacturing industries to test for the link between credit constraints, measured by a credit rating score provided by a leading credit rating agency, and imports in Germany for the first time. We find...
Persistent link: https://www.econbiz.de/10010335890
Since the onset of the financial crisis, income and consumption have fallen sharply in Ireland, particularly for young households. This paper shows that young households are more likely than older ones to be exposed to unemployment, arrears and negative equity. These may give rise to credit...
Persistent link: https://www.econbiz.de/10010392499
This paper advocates for incorporating timely measures of firms' current situation and future expectations when disentangling real effects of credit supply from demand-side factors. Identification of supply-side effects in firm-level analyses often relies on balance sheet variables to control...
Persistent link: https://www.econbiz.de/10010500374
This paper develops a new international trade model with capital market imperfections and endogenous borrowing costs in general equilibrium. Our theoretical model is motivated by new empirical patterns from enterprise survey data of the World Bank. Observing that a substantial fraction of the...
Persistent link: https://www.econbiz.de/10010531613