Management risk occurs because uncertainty about future managerial decisions increases a firm's overall risk. This paper documents the importance of management risk in determining firms' cost of borrowing. CDS spreads, loan spreads and bond yield spreads all increase at the time of CEO turnover,...

This paper sorts out competing explanations of high real interest rates and banking crises in open economies.

This paper examines 1) an exploration of international interest rates, 2) investment and saving in Australia, 3) Unemployment in Market Economies.