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Ibañez, Alfredo - 2020

When firms roll over bonds of different maturity, their debt-maturity structure can feature both shorter and longer … maturity in bad times. We link these debt-maturity patterns to the firms' fundamentals, assuming earnings are deterministically … via longer maturity. By contrast, the fraction of newly issued short-term debt is (weakly) procyclical in all paths. That …

Persistent link: https://www.econbiz.de/10012853270

Household debt, corporate debt, and the real economy : some empirical evidence

Park, Donghyun; Shin, Kwanho; Tian, Shu - In: Emerging markets, finance & trade : a journal of the … 58 (2022) 5, pp. 1474-1490

Persistent link: https://www.econbiz.de/10013167093

Household debt, corporate debt, and the real economy : some empirical evidence

Park, Donghyun; Shin, Kwanho; Tian, Shu - 2018

The rapid accumulation of private debt is widely viewed as a major risk to financial and economic stability. This paper systematically and comprehensively assesses the effect of private debt buildup on economic growth. In the spirit of Mian, Sufi, and Verner (2017) that separately examine the...

Persistent link: https://www.econbiz.de/10011946955