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Persistent link: https://www.econbiz.de/10011427689
maturity in the event of crises, and show that both necessarily improve ex ante welfare if they do not decrease expected …
Persistent link: https://www.econbiz.de/10012457880
maturity in the event of crises, and show that both necessarily improve ex ante welfare if they do not decrease expected …
Persistent link: https://www.econbiz.de/10013031214
upward trend for most countries and maturity bands, we do observe reversals and negative trends among both DMs and EMs and … long vs. the short maturity bond segments and show that enhanced institutional quality, higher credit quality and better … future investment opportunities would jointly contribute to a higher integration of the long vs. the short maturity bonds by …
Persistent link: https://www.econbiz.de/10013050934
. For instance, they can help mitigate the currency and maturity mismatch that contributed to the outbreak of the Asian …
Persistent link: https://www.econbiz.de/10011920074
Persistent link: https://www.econbiz.de/10012319395
This paper investigates whether firms are able to diversify the maturity structure of their bond profiles given the … availability of the offshore bond markets. I look at average maturity, maturity structure, and the inverse of the Herfindahl index … to explore the maturity diversification effect. I find that while the average maturity of offshore bonds is different …
Persistent link: https://www.econbiz.de/10014348778
We develop a multicountry model in which default in one country triggers default in other countries. Countries are linked to one another by borrowing from and renegotiating with common lenders with concave payoffs. A foreign default increases incentives to default at home because it makes new...
Persistent link: https://www.econbiz.de/10013074284
Persistent link: https://www.econbiz.de/10010210162
During the 1990s and the 2000s a variety of crises affected the stability of international capital markets: from the European Monetary System crisis in 1992-93 and the emerging market crises to today’s financial crisis have been present in the arenas of capital markets. These crises stimulated...
Persistent link: https://www.econbiz.de/10012444263