with Federal Reserve loans. It finds that subsidy rates on these loans were on average 33.9 percent at origination. Yet, by … the 3rd quarter of the 2010, there was on average no subsidy in TALF loans. The theoretical model is used to predict the …

estimates the size of the government's subsidy. Moreover, this paper finds the circumstances under which banks and asset …

with Federal Reserve loans. It finds that subsidy rates on these loans were on average 33.9 percent at origination. In … contrast, by the 3rd quarter of the 2010, there was on average no subsidy in TALF loans. The theoretical model is used to …

In this paper we review the pricing and model calibration of Credit Default Swaps referring to both the International … Swaps and Derivatives Association (ISDA) CDS contract and credit model standardization guidelines. Furthermore we provide an … Excel pricing workbook to supplement the materials discussed. The main goal is for this paper to act as a credit primer and …

government-subsidized credit, and that larger businesses and politically-important industries capture larger shares of the …

Does emergency credit prevent long-term financial distress? We study the causal effects of government-provided recovery … bankruptcy, increase employment and revenue, unlock private credit, and reduce delinquency. These effects, especially the … crowding-in of private credit, appear to reflect resolving uncertainty about repair. We do not find capital reallocation away …

-neutral means of funding up-front subsidies. Accelerating the subsidy would make higher education spending more efficient by … encouraging more students on the financial margin to enroll. Allocating the subsidy on a need-only basis would deliver, on average …, a $4,800 up-front lump-sum subsidy to students from low-income families, increasing the enrollment rate among low …

as (i) transaction prices do not compensate for credit risks; (ii) banks fund the NPL transactions and remain responsible …