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use of default clauses and their restrictiveness within the same type of lending contract but also across loans and bonds …
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, the model reflects empirical credit spread patterns, rationalizes the observed joint distribution of corporate events and …
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Germany is a reluctant supporter of the EU funds which are being used in the ‘bailout' of Ireland, and it insists on strict ‘austerity' conditions, concerned about risk and moral hazard.However, through its central bank, Germany is lending €325bn (December 2010) to other central banks in...
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