Showing 33,521 - 33,530 of 34,287
This paper develops a framework to estimate implied recovery values and risk-neutral default probability term-structures from sovereign bond prices. The model is applied to Greek bonds during the European debt crisis of 2010. In April and May 2010, the probability of a Greek default quickly...
Persistent link: https://www.econbiz.de/10013141819
Bankruptcy Demographics Report is the second year of research to capture information on American debtors filing bankruptcy during … demographics of debtors that may be attributable to the recession. These two years show 24 months of Americans filing bankruptcy … bankruptcy process.As in years past, the average American in financial distress and seeking credit counseling and financial …
Persistent link: https://www.econbiz.de/10013141821
The paper integrates the problem of designing corporate bankruptcy rules into a theory of optimal debt structure. We … that are jointly inconsistent in case of default. Bankruptcy rules are therefore a necessary part of the overall financing …, with predictions about the allocation of security rights, the right to trigger bankruptcy and the symmetry of treatment of …
Persistent link: https://www.econbiz.de/10013142049
This short paper argues that rationally motivated coordination between agents is an important ingredient to understand the current economic crisis. We argue that changes in parameters that model the structure of a macro-economy or financial markets are not exogenous but arise as agents adopt...
Persistent link: https://www.econbiz.de/10013142248
We consider the effect of recovery rates on a pool of credit assets. We allow the recovery rate to depend on the defaults in a general way. Using the theory of large deviations, we study the structure of losses in a pool consisting of a continuum of types. We derive the corresponding rate...
Persistent link: https://www.econbiz.de/10013142457
the sale that the Supreme Court had allowed to go forward - and which both the Bankruptcy Court for the Southern District … upholding the bankruptcy court's approval of the sale and ordering the Court of Appeals to dismiss the dissenting secured … its disagreement with the Second Circuit's interpretation of the requirements of §363(b), the section of the Bankruptcy …
Persistent link: https://www.econbiz.de/10013142471
Bankruptcy law establishes proceedings designed to rehabilitate debtors while protecting creditors, but a series of … safe harbors effectively exempts from bankruptcy proceedings certain financial contracts known as derivatives. Accordingly … unnecessary costs arising from bankruptcy and thereby better reduce systemic risk …
Persistent link: https://www.econbiz.de/10013142531
issues involved in this matter and undertakes a comparative analysis of third party releases in corporate bankruptcy …
Persistent link: https://www.econbiz.de/10013142840
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/10013142945
We develop a closed economy model in order to study the interactions among sovereign risk premia, fiscal limits and fiscal policy. The stochastic fiscal limit, which measures the ability and willingness of the government to service its debt, arises endogenously from dynamic Laffer Curves. The...
Persistent link: https://www.econbiz.de/10013142968