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Business and Default Cycles for Credit Risk
Koopman, Siem Jan; Lucas, André - 2003
.S. data on real GDP, credit spreads, and business failure rates to shed new light on the empirical evidence. We use a …-movements arise between default rates, but not real GDP. There is, however, a contemporaneous correlation between real GDP and default … rates. Regarding the longer term evolution of the series, credit spreads influence default rates and real GDP, but not vice …
Persistent link: https://www.econbiz.de/10010324897
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Business and default cycles for credit risk
Koopman, Siem Jan; Lucas, André - 2003
.S. data on real GDP, credit spreads, and business failure rates to shed new light on the empirical evidence. We use a …-movements arise between default rates, but not real GDP. There is, however, a contemporaneous correlation between real GDP and default … rates. Regarding the longer term evolution of the series, credit spreads influence default rates and real GDP, but not vice …
Persistent link: https://www.econbiz.de/10011333881
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Credit cycles and macro fundamentals
Koopman, Siem Jan; Kräussl, Roman; Lucas, André; … - 2006
We study the relation between the credit cycle and macro-economic fundamentals in an intensity-based framework. Using rating transition and default data of U.S. corporates from Standard and Poor’s over the period 1980-2005 we directly estimate the credit cycle from the micro rating data. We...
Persistent link: https://www.econbiz.de/10011348707
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Determinants of the credit cycle : a flow analysis of the extensive margin
Cuciniello, Vincenzo; Di Iasio, Nicola - 2021
Using loan-level data covering almost all loans to households and businesses from banks in Italy over the past 20 years, we offer new empirical evidence that credit declines during a recession primarily because of the reduction in the net creation of borrowers. We then build on a flow approach...
Persistent link: https://www.econbiz.de/10012622824
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The asymmetric effects of monetary policy on economic activity in Turkey
Kilinc, Mustafa; Tunç, Cengiz - In: Structural change and economic dynamics : SC+ED 51 (2019), pp. 505-528
Persistent link: https://www.econbiz.de/10012301019
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Recession propagation in small regional economies : spatial spillovers and endogenous clustering
Shibaev, Sergei S. - 2016
This paper develops a statistical model for measuring spatial interactions when estimating macroeconomic regimes and regime shifts. The model is applied to study the contagion and propagation of recessions in small regional economies in the United States from 1990 to 2015. The empirical analysis...
Persistent link: https://www.econbiz.de/10011567460
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Indicators of sustainable development for the city and the lagoon of Venice
Ramieri, Emiliano; Cogo, Valentina - 1998
In the past few years sustainability and sustainable development have become important concepts widespread over the world. There is no agreement on a common definition of sustainability, but there is a general need to measure and assess sustainability in different geographical and spatial...
Persistent link: https://www.econbiz.de/10011608425
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Why not in your backyard?: on the location and size of a public facility
Bellettini, Giorgio; Kempf, Hubert - 2008
In this paper, we tackle the issue of locating a public facility which provides a public good in a closed and populated territory. This facility generates differentiated benefits to neighborhoods depending on their distance from it. In the case of a Nimby facility, the smaller is the distance,...
Persistent link: https://www.econbiz.de/10010264324
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A theory of urban squatting and land-tenure formalization in developing countries
Brueckner, Jan Keith; Selod, Harris - 2008
This paper offers a new theoretical approach to urban squatting, reflecting the view that squatters and formal residents compete for land within a city. The key implication of this view is that squatters squeeze" the formal market, raising the price paid by formal residents. The squatter...
Persistent link: https://www.econbiz.de/10010271850
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Sprawl and blight
Brueckner, Jan Keith; Helsley, Robert W. - 2009
The objective of this paper is to show how the same market failures that contribute to urban sprawl also contribute to urban blight. The paper develops a simple dynamic model in which new suburban and older central-city properties compete for mobile residents. The level of housing services...
Persistent link: https://www.econbiz.de/10010271865