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values.We incorporate RFV into an exogenous boundary structural credit risk model and compare its e ect to more typical … credit risk models.We show that some features of existing structural models are a result of the recovery form assumed in the … recovery form in estimating the cost of debt capital within a structural model framework. …
Persistent link: https://www.econbiz.de/10011092403
Conventional theories of capitalism are mired in a deep crisis: after centuries of debate, they are still unable to tell us what capital is. Liberals and Marxists both think of capital as an 'economic' entity that they count in universal units of ‘utils’ or 'abstract labour', respectively....
Persistent link: https://www.econbiz.de/10011646688
The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and...
Persistent link: https://www.econbiz.de/10011646704
This work is a PhD dissertation, written at the Department of Economics, McGill University. The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of...
Persistent link: https://www.econbiz.de/10005789620
Persistent link: https://www.econbiz.de/10011618182
Persistent link: https://www.econbiz.de/10014534916
This paper explores the relationship between inflation and the existence of a local, nominal, publicly-traded, long-maturity, domestic-currency bond market. Bond holders are exposed to capital losses through inflation and therefore represent a potential anti-inflationary force; we ask whether...
Persistent link: https://www.econbiz.de/10011188054
Persistent link: https://www.econbiz.de/10010942898
international property, increased levels of debt, incorporating property development activities via use of stapled securities … 1996-2006, the changing risk profile of LPTs is assessed. Since 2003, while the "expectation" was for higher LPT risk … levels, there has been no evidence of increased levels of LPT risk, particularly in the international LPT and stapled …
Persistent link: https://www.econbiz.de/10009482067
Persistent link: https://www.econbiz.de/10004971320