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This paper examines the evolution of the U.S. interest swap market. The authors review the theory and past empirical … studies on U.S. swap spreads, and estimate an error-correction model for maturities of 2, 5, and 10 years from 1994 to 2004 … counterparty default risk by mark-to-market and collateralization. Swap spreads reflect the LIBOR credit quality (credit component …
Persistent link: https://www.econbiz.de/10010522778
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Croatia faces two key labor market challenges: a shortage of labor and the inadequate skills of its existing workforce. These challenges are being shaped by global megatrends, namely, demographic, green, and digital transitions. To address these key challenges, actions are needed on several...
Persistent link: https://www.econbiz.de/10015402453
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"The authors examine the effects of taxation on financing policy using the corporate tax reform in 2001 in Croatia as a natural experiment. Since the extant literature on tax effects on capital structure studies listed firms in developed countries, it is worth investigating whether the same...
Persistent link: https://www.econbiz.de/10010521006
"Zervos documents the precise costs of debt and equity issuance, both domestically and internationally, for firms in Brazil, Chile, and Mexico. Costs include investment banking and legal fees, regulatory and exchange listing costs, rating agency fees, and expenditures for marketing and...
Persistent link: https://www.econbiz.de/10010522910
"Da Silva, Estache, and Jarvela describe the evolution of the financing structure of regulated privatized utilities and transport companies. To do so, they rely on a sample of 121 utilities distributed over 16 countries, and 23 transport infrastructure operators and 23 transport services...
Persistent link: https://www.econbiz.de/10010522960
Croatia is at a critical demographic crossroads. Against a backdrop of an aging and declining population, Croatia is transitioning from a country of emigration to one increasingly relying on foreign workers, with profound implications for the nation's economic and social fabric. While recent...
Persistent link: https://www.econbiz.de/10015402472
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"In contrast with a growing literature on the drivers of aggregate volatility in developing countries, its consequences … aggregate volatility has a regressive, asymmetric, and non linear impact, as reflected in the strong influence of extreme output …
Persistent link: https://www.econbiz.de/10011394189