Similar Search Results

The COVID-19 impact on corporate leverage and financial fragility

Haque, Sharjil Muktafi; Varghese, Richard - 2021

We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...

Persistent link: https://www.econbiz.de/10012796218

Pandemics, intermediate goods, and corporate valuation

Laeven, Luc - In: Journal of international money and finance 120 (2022), pp. 1-22

Persistent link: https://www.econbiz.de/10013417340

Liquidity Constraints, Risk Premia, and the Macroeconomic Effects of Liquidity Shocks

Jaccard, Ivan - 2013

We study the transmission of liquidity shocks in a dynamic general equilibrium model where firms and households are … subject to liquidity risk. The provision of liquidity services is undertaken by financial intermediaries that allocate the … stock of liquid asset between the different sectors of the economy. We find that the macroeconomic effects of liquidity …

Persistent link: https://www.econbiz.de/10013086095

Financial Distress and Macroeconomic Risks

Athreya, Kartik; Mather, Ryan; Mustre-del-Rio, Jose; … - 2021

The goal of this paper is to show that household-level financial distress (FD) varies greatly, meaning there is unequal exposure to macroeconomic risk, and that FD can increase macroeconomic vulnerability. To do this, we first establish three facts: (i) regions in the U.S. vary significantly in...

Persistent link: https://www.econbiz.de/10013322291