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Remarks at the University at Albany, Albany, New York.
Persistent link: https://www.econbiz.de/10009366965
Remarks at United States Military Academy at West Point, West Point, New York.
Persistent link: https://www.econbiz.de/10009366966
Remarks at United States Military Academy at West Point, West Point, New York.
Persistent link: https://www.econbiz.de/10010724961
Remarks at the University at Albany, Albany, New York.
Persistent link: https://www.econbiz.de/10010724965
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
which borrowers have incentives to repudiate their debt obligations. Borrowers with short credit histories face the poorest … liquidation. However, over time if borrowers repay debt on all dates, they will establish a good credit history. This may improve … their incentives, such that they will repay debt because they are concerned about their reputations for being a good credit …
Persistent link: https://www.econbiz.de/10008852334
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
This paper explores the effects of official creditor subsidies to private lenders on loan pricing and credit …
Persistent link: https://www.econbiz.de/10005035568