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Sever, Can - 2023

This paper explores the dynamic relationship between firm debt and real outcomes using data from 24 European economies over the period of 2000-2018. Based on macro data, it shows that a rise in credit to firms is associated with an increase in employment growth in the short-term, but employment...

Persistent link: https://www.econbiz.de/10014353733

Curbing Corporate Debt Bias

De Mooij, Ruud A. - 2017

Tax provisions favoring corporate debt over equity finance ('debt bias') are widely recognized as a risk to financial stability. This paper explores whether and how thin-capitalization rules, which restrict interest deductibility beyond a certain amount, affect corporate debt ratios and mitigate...

Persistent link: https://www.econbiz.de/10012960580

The COVID-19 Impact on Corporate Leverage and Financial Fragility

Haque, Sharjil Muktafi; Varghese, Richard - 2022

We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...

Persistent link: https://www.econbiz.de/10013299034

Brazil's Capital Market : Current Status and Issues for Further Development

Park, Joonkyu - 2012

Capital market development in Brazil is a key policy issue going forward to foster savings, investment and absorptive … capacity in a context of prospects for sizable capital flows in the medium term. During the last decade, Brazil has achieved … infrastructure has been reformed and strengthened, and a diversified investor base has been built. Nonetheless, Brazil's capital …

Persistent link: https://www.econbiz.de/10013098582

Scarring and Corporate Debt

Estefania Flores, Julia; Furceri, Davide; … - 2022

This paper estimates the scarring effect of recessions on corporates’ investment and how it is amplified by the level of corporate debt. Our results suggest that the effect of firms’ debt in shaping the response of investment to recessions is statistically significant and economically...

Persistent link: https://www.econbiz.de/10014238495

Parameterizing Debt Maturity

Barrett, Philip; Johns, Christopher - 2022

This paper examines ways to summarize the maturity structure of public debts using a small number of parameters. We compile a novel dataset of all promised future payments for US and UK government debt from every month since 1869, and more recently for Peru, Poland, Egypt, and Nigeria. We show...

Persistent link: https://www.econbiz.de/10013305675

Non-Financial Corporate Debt in Advanced Economies, 2010-17

Almeida, Luiza Antoun de - 2020

This paper studies the evolution of non-financial corporate debt among publicly listed companies in major advanced economies between 2010 and 2017. Since 2010, firms have started to rely more on corporate bond markets and have used part of their debt to increase their holdings of cash. In our...

Persistent link: https://www.econbiz.de/10012827582

Determinants and Effects of Countries’ External Capital Structure : A Firm-Level Analysis

Herman, Uroš; Krahnke, Tobias - 2022

In this paper, we investigate whether a firm’s composition of foreign liabilities matters for their resilience during economic turmoil and examine which characteristics determine a firm’s foreign capital structure. Using firm-level data, we corroborate previous findings from the...

Persistent link: https://www.econbiz.de/10013295007

Evolution of Remittances to CAPDR Countries and Mexico During the COVID-19 Pandemic

Babii, Aleksandra; Carare, Alina; Vasilyev, Dmitry; … - 2022

remittances to CAPDR and Mexico during the pre-pandemic period. However, they fail to predict the sustained growth in remittances …

Persistent link: https://www.econbiz.de/10014082955

Crime and the Economy in Mexican States : Heterogeneous Panel Estimates (1993-2012)

Verdugo Yepes, Concepcion - 2015

This paper studies the transmission of crime shocks to the economy in a sample of 32 Mexican states over the period from 1993 to 2012. The paper uses a panel structural VAR approach which accounts for the heterogeneity of the dynamic state level responses in GDP, FDI and international migration...

Persistent link: https://www.econbiz.de/10013020268