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Investment of financially distressed firms : the role of trade credit

Ferrando, Annalisa; Wolski, Marcin - 2018

We study the relationship between net trade credit and firms' investment levels, focusing on financially distressed firms. First, we introduce a theoretical model to predict the role played by net trade credit as a coordination device differentiating firms by their degree of financial distress....

Persistent link: https://www.econbiz.de/10011820889

Sovereign risk and bank risk-taking

Ari, Anil - 2018

I propose a dynamic general equilibrium model in which strategic interactions between banks and depositors may lead to endogenous bank fragility and slow recovery from crises. When banks' investment decisions are not contractible, depositors form expectations about bank risk-taking and demand a...

Persistent link: https://www.econbiz.de/10011978544

Addressing labour market challenges in Belgium

McGowan, Muge Adalet; Hijzen, Alexander; Law, David; … - 2020

Job creation has lowered unemployment, but the Belgian labour market still faces many challenges. Employment rates … some aspects of employment protection legislation, such as those related to collective dismissals, and the wage formation …

Persistent link: https://www.econbiz.de/10012203307

Améliorer les performances du marché du travail en France : mise en oeuvre de la Stratégie pour l'emploide l'OCDE

Goujard, Antoine; Hijzen, Alexander; Thewissen, Stefan - 2019

Ce chapitre propose une analyse approfondie des performances du marché du travail français suivant la nouvelle Stratégie pour l’emploi de l’OCDE. Depuis 2015, les créations d’emploi ont fait refluer le chômage et les situations de sous emploi ont diminué, mais le marché du travail...

Persistent link: https://www.econbiz.de/10012111285

Services imports and labour in Viet Nam

Jaax, Alexander; Johannesson, Louise; Nguyen, Thi Xuan Thu - 2020

employment dynamics in the case of Viet Nam. The econometric analysis consists of two parts. First, data covering formal firms … are exploited to investigate the relationship between sector-level services import intensity and firm-level employment and … services firms, whereas a small negative effect on firm-level employment is observed. For manufacturing firms, there is no …

Persistent link: https://www.econbiz.de/10012312299

Strategic complementarity in banks' funding liquidity choices and financial stability

Silva, André - 2016

This paper examines whether banks' liquidity and maturity mismatch decisions are affected by the choices of competitors and the impact of these coordinated funding liquidity policies on financial stability. Using a novel identification strategy where interactions are structured through decision...

Persistent link: https://www.econbiz.de/10011975055

Reconstructing and stress testing credit networks

Ramadiah, Amanah; Caccioli, Fabio; Fricke, Daniel - 2018

Financial networks are an important source of systemic risk, but often only partial network information is available. In this paper, we use data on bank-firm credit relationships in Japan and conduct a horse race between different network reconstruction methods in terms of their ability to...

Persistent link: https://www.econbiz.de/10011978815

Optimally solving banks' legacy problems

Segura, Anatoli; Suárez, Javier - 2019

We characterize policy interventions directed to minimize the cost to the deposit guarantee scheme and the taxpayers of banks with legacy problems. Non-performing loans (NPLs) with low and risky returns create a debt overhang that induces bank owners to forego profitable lending opportunities....

Persistent link: https://www.econbiz.de/10012017693

Costa Rica : boosting productivity to sustain income convergence

Pisu, Mauro - 2016

In the latest 30 years, Costa Rica's real GDP per capita has more than doubled, driven by increasing labour utilisation. Labour productivity has instead stagnated at around 30% of the more advanced OECD countries. Productivity growth has been lacklustre despite the opening up of markets to...

Persistent link: https://www.econbiz.de/10011577857

The performance of credit rating systems in the assessment of collateral used in Eurosystem monetary policy operations

Coppens, François; González, Fernando; Winkler, Gerhard - 2007

The aims of this paper are twofold: first, we attempt to express the threshold of a single "A" rating as issued by major international rating agencies in terms of annualised probabilities of default. We use data from Standard & Poor’s and Moody’s publicly available rating histories to...

Persistent link: https://www.econbiz.de/10011638970

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