Asset Pricing, Default Risk. - The central question of this thesis is whether firm distress risk explains stock returns. This question is important because it has been suspected that distress risk might reconcile a growing evidence on patterns in returns, which are otherwise hard to explain,...

The paper aims to present some risks and consequences of the indebtedness of an economy. The article is based on the results of a research project and it describes the negative effects of a high level of indebtedness of an economy, the elements that influence the risks of an economy's...