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This paper explains the emergence of liquidity traps in the aftermath of large-scale financial crises, as happened in the US 1930s, Japan 1990s and recently in the US and Europe. The paper introduces a new balance sheet channel that links equity capital to the risk-free interest rate. When...
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Consumer insolvency is a topic that has gained much prominence in the context of the financial crisis on both sides of … quite different approaches: the UK, Ireland, Germany, France and Spain. Since there is no law on consumer insolvency in … which bankruptcy procedures are the most appropriate. After a short presentation of each insolvency procedure, the …
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Commission Recommendation of 12 March 2014 on a New Approach to Business Failure and Insolvency. Similar policy shift … characterizes the 2007 Enterprise Insolvency Law of the People's Republic of China as visible from Chapter 8 on reorganisation and …
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