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Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia

Kim, Se-Jik - 1999

Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating...

Persistent link: https://www.econbiz.de/10014400639

Pricing Fund Liquidity Provision

Rossi, Marco - 2007

This paper presents a market-based framework for pricing Fund liquidity assistance that accounts for the credit risk … and the insurance benefit involved in such operations. It is based on the isomorphic correspondence between Fund liquidity … the liquidity guarantee provided by the Fund could range from a few to over one hundred basis points depending on the …

Persistent link: https://www.econbiz.de/10014400782

Legal Aspects of Regulatory Treatment of Banks in Distress

Asser, T. M. C. - 2001

This book analyzes and compares the laws of selected industrial countries that are representative of the different approaches to the treatment of banks in distress. It addresses only those banking and economic policy issues that are required for a proper understanding of the banking law or the...

Persistent link: https://www.econbiz.de/10014400800

Inflation Targeting in Dollarized Economies

Leiderman, Leonardo - 2006

The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a...

Persistent link: https://www.econbiz.de/10014402285

The Impact of Legislationon Credit Risk : Comparative Evidence From the United States, the United Kingdom and Germany

Schmieder, Philipp - 2011

This study investigates the link between bankruptcy and security legislation and potential credit losses faced by banks based on a cross-country study for the United States (US), the United Kingdom (UK) and Germany. Focusing on corporate credit, we find that legislation produces the highest...

Persistent link: https://www.econbiz.de/10014402362

The Liquidity and Liquidity Distribution Effects in Emerging Markets : The Case of Jordan

Vandenbussche, Jérôme - 2009

quantifies the classic liquidity effect, but also uncovers a liquidity distribution effect on both sides of the market, and shows … liquidity effect …

Persistent link: https://www.econbiz.de/10014402366

Closing a failed bank : resolution practices and procedures

Parker, David C. - 2011

This manual addresses problem bank resolution from the time a bank is identified as being in financial trouble through intervention to liquidation. It comes with an interactive CD-ROM from which users can download and tailor documents to use in their own closing processes. The book draws on the...

Persistent link: https://www.econbiz.de/10014402624

Bankruptcy and Firm Dynamics : The Case of the Missing Firms

Rodríguez-Delgado, Jose Daniel - 2010

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate...

Persistent link: https://www.econbiz.de/10014402687

International Transmission of Bank and Corporate Distress

N'Diaye, Papa M'B. P. - 2010

The paper evaluates how increases in banks’ and nonfinancial corporates’ default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the period from January 1996 to December 2008. The results point to two-way causality...

Persistent link: https://www.econbiz.de/10014402720

Crises and Liquidity : Evidence and Interpretation

Detragiache, Enrica - 2001

In a large panel of countries, we find that less liquid countries are more likely to default on their external debt. Specifically, for given total external debt, the probability of a crisis increases with the proportion of short-term debt and debt service coming due and decreases with foreign...

Persistent link: https://www.econbiz.de/10014403529