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Business Conditions and Default Risks Across Countries

Pflüger, Michael - 2011

The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...

Persistent link: https://www.econbiz.de/10013128748

Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, M. Hashem - 2011

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...

Persistent link: https://www.econbiz.de/10013119292

Testing for Nonparametric Identification of Causal Effects in the Presence of a Quasi-Instrument

DeLuna, Xavier - 2012

The identification of average causal effects of a treatment in observational studies is typically based either on the unconfoundedness assumption or on the availability of an instrument. When available, instruments may also be used to test for the unconfoundedness assumption (exogeneity of the...

Persistent link: https://www.econbiz.de/10013104053

Transmission of US and EU Economic Policy Uncertainty Shock to Asian Economies in Bad and Good Times

Balcilar, Mehmet - 2020

This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...

Persistent link: https://www.econbiz.de/10012833241

Heterogeneous Effects of Credit Constraints on Smes' Employment : Evidence from the Great Recession

Cornille, David - 2018

This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment decisions of SMEs have been affected by credit constraints in the wake of the Great Recession. Variability in banks' financial health following the 2008 crisis is used as an...

Persistent link: https://www.econbiz.de/10012929109

Oil Exports and the Iranian Economy

Esfahani, Hadi Salehi - 2009

This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...

Persistent link: https://www.econbiz.de/10013154980

Personal Bankruptcy Law, Wealth and Entrepreneurship : Theory and Evidence from the Introduction of a 'Fresh Start'

Fossen, Frank M. - 2011

A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or...

Persistent link: https://www.econbiz.de/10013130785

The Nature of Long-Term Unemployment : Predictability, Heterogeneity and Selection

Müller, Andreas; Spinnewijn, Johannes - 2023

administrative data in Sweden. Compared to using standard socio-demographic variables, the predictive power more than doubles when …

Persistent link: https://www.econbiz.de/10014257170

Sweden's Pensioners : How They Have Fared in the Roller Coaster Ride Through the Past Decade and a Half of Deep Recession and Economic Exuberance

Gustafsson, Björn; Johansson, Mats; Palmer, Edward E. - 2021

This study analyses the development of the economic well-being of the elderly in Sweden since 1990 - a period … Survey. The elderly were not isolated as pensions were cut, full indexation abandoned and taxes increased during Sweden … elderly. Overall, poverty among the elderly in Sweden remains low in an international perspective and our analysis leads us to …

Persistent link: https://www.econbiz.de/10013324866

Sweden's COVID-19 Recession : How Foreign and Domestic Infections Struck Against Firms and Workers

Akerman, Anders; Ekholm, Karolina; Persson, Torsten; … - 2022

Using highly granular micro data, we document very divergent economic effects of the COVID-19 pandemic on Swedish private-sector firms and their workers. Firms that exported to, or imported from, heavily afflicted countries reduced their output due to disrupted trade. Service firms that operated...

Persistent link: https://www.econbiz.de/10014081269