Characteristics of recessions -- The recession of 1948-49 -- The recession of 1953-54 -- The recession of 1957-58 -- The recession of 1960-61 -- The recession of 1969-70 -- The recession of 1973-75 -- The recession of 1980 -- The recession of 1981-82 -- The recession of 1990-91 -- The recession...

Traditional methods for evaluating corporate credit risk rarely consider the impact of the macro economy on corporate value and performance. We argue that lenders and management can obtain valuable information about the need for and approach to restructuring by decomposing default predictions...