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This paper utilizes a very simple model to study the timing and determinants of speculationagainst a fixed exchange rate regime when investors are heterogeneous because of locationaldifferences. Location matters because resident players may incur smaller costs when takinga short-position, are...
Persistent link: https://www.econbiz.de/10011326412
This paper studies the impact of the state-dependent risk of a government default on the correlation of the scal balance and current account. We use a small open economy model where nonlinear risk premia arise endogenously when the government operates close to its scal limit, i.e. the maximum...
Persistent link: https://www.econbiz.de/10010341080
exchange rate's response to external imbalances occurred with a delay. Based on the estimated maturity structure of Japan …
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asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt … maturity choices. We employ data on over 6,000 commercial loans from 53 large U.S. banks. Our results for low-risk firms are … information in explaining debt maturity"--Federal Reserve Board web site …
Persistent link: https://www.econbiz.de/10002365252
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information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt maturity … information in explaining debt maturity …
Persistent link: https://www.econbiz.de/10013158550
asymmetric information in determining debt maturity, and we examine the overall importance of informational asymmetries in debt … maturity choices. We employ data on over 6,000 commercial loans from 53 large U.S. banks. Our results for low-risk firms are … asymmetric information in explaining debt maturity …
Persistent link: https://www.econbiz.de/10014402040