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This paper documents that the bond investments of insurance companies transmit shocks from insurance markets to the … real economy. Liquidity windfalls from household insurance purchases increase insurers' demand for corporate bonds …
Persistent link: https://www.econbiz.de/10012671848
This paper documents that the bond investments of insurance companies transmit shocks from insurance markets to the … real economy. Liquidity windfalls from household insurance purchases increase insurers' demand for corporate bonds …
Persistent link: https://www.econbiz.de/10012818411
granular data on the bond transactions of U.S. insurance companies. Liquidity inflows from insurance premiums combined with …
Persistent link: https://www.econbiz.de/10014315209
Persistent link: https://www.econbiz.de/10013174161
In this paper, we investigate the damage to real-sector investment spending and corporate financing activities triggered by the failure of three major investment banks during the 2007-09 financial crisis. We find that firms characterized by pre-crisis corporate investment banking relationships...
Persistent link: https://www.econbiz.de/10010410832
This paper provides a policy-oriented summary of the econometric study commissioned by the European Court of Auditors, in the context of its audit of EU-funded loan guarantee instruments.2 The study assesses the real performance effects of EU-guaranteed loans to SMEs disbursed in France during...
Persistent link: https://www.econbiz.de/10011939685
Persistent link: https://www.econbiz.de/10012404356
The bank recovery and resolution directive (BRRD) regulates the bail-in hierarchy to resolve distressed banks without burdening tax payers. We exploit the staggered implementation of the BRRD across 15 European Union (EU) member states to identify banks’ capital cost and capital structure...
Persistent link: https://www.econbiz.de/10012486203
This working paper investigates the economic effects of guaranteed loans granted under the EU programmes MAP and CIP on SMEs' growth in Italy, the Benelux and the Nordic countries (Denmark, Finland, Norway and Sweden) from 2002 to 2016. In these macro-regions, the facilities supported 174,107...
Persistent link: https://www.econbiz.de/10011963850
Persistent link: https://www.econbiz.de/10012261288