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With public debt soaring across the world, a growing concern is whether current debt levels are a harbinger of fiscal crises, thereby restricting the policy space in a downturn. The empirical evidence to date is however inconclusive, and the true cost of debt may be overstated if interest rates...
Persistent link: https://www.econbiz.de/10012170046
To date, the use of empirical data in insolvency law analysis has been sporadic. This paper provides a conceptual … framework for the use of data to assess the effectiveness and efficiency of insolvency systems. The paper analyzes the existing … sources of data on insolvency proceedings, including general insolvency statistics, judicial statistics, statistics of …
Persistent link: https://www.econbiz.de/10012009271
This paper suggests a novel approach to assess corporate sector solvency risk. The approach uses a Bottom-Up Default Analysis that projects probabilities of default of individual firms conditional on macroeconomic conditions and financial risk factors. This allows a direct macro-financial link...
Persistent link: https://www.econbiz.de/10011704646
rationale for structural reforms that simultaneously speed up the resolution of private sector insolvency, improve creditor …
Persistent link: https://www.econbiz.de/10011705385
The modernization of Italy's insolvency framework has been the subject of much interest in recent years, related not … least to its role in potentially facilitating an efficient allocation of resources. A unique feature of Italy's insolvency … folding the special regime into the general insolvency regime, possibly with provisions to allow for state intervention in …
Persistent link: https://www.econbiz.de/10011932376
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This paper explores insolvency and debt recovery procedures, and political, legal, and institutional factors … structures and the depth of recessions across economies. Second, aspects of insolvency procedures favoring rehabilitation of …
Persistent link: https://www.econbiz.de/10014400638