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The End : A New Indicator of Financial and Nonfinancial Corporate Sector Vulnerability

Chan-Lau, Jorge A. - 2005

This paper describes a corporate sector vulnerability indicator, the expected number of defaults (END), based on the joint occurrence of defaults among a number of firms and/or institutions. The END indicator is general enough to assess systemic risk in the corporate and financial sectors, as...

Persistent link: https://www.econbiz.de/10014402060

From Lombard Street to Avenida Paulista : Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09

Stone, Mark Richard - 2009

The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs … from the domestic liquidity lender of last resort role described by Bagehot in his classic ""Lombard Street."" This paper … documents and analyzes the foreign exchange liquidity providing measures of the Banco Central do Brasil (BCB) in response to …

Persistent link: https://www.econbiz.de/10014402073

Emerging Economy Responses to the Global Financial Crisis of 2007-2009 : An Empirical Analysis of the Liquidity Easing Measures

Yehoue, Etienne B. - 2009

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by …

Persistent link: https://www.econbiz.de/10014402220

Fundamentals-Based Estimation of Default Probabilities : A Survey

Chan-Lau, Jorge A. - 2006

because of low liquidity …

Persistent link: https://www.econbiz.de/10014402242

Inflation Targeting in Dollarized Economies

Leiderman, Leonardo - 2006

The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a...

Persistent link: https://www.econbiz.de/10014402285

The Impact of Legislationon Credit Risk : Comparative Evidence From the United States, the United Kingdom and Germany

Schmieder, Philipp - 2011

This study investigates the link between bankruptcy and security legislation and potential credit losses faced by banks based on a cross-country study for the United States (US), the United Kingdom (UK) and Germany. Focusing on corporate credit, we find that legislation produces the highest...

Persistent link: https://www.econbiz.de/10014402362

The Liquidity and Liquidity Distribution Effects in Emerging Markets : The Case of Jordan

Vandenbussche, Jérôme - 2009

quantifies the classic liquidity effect, but also uncovers a liquidity distribution effect on both sides of the market, and shows … liquidity effect …

Persistent link: https://www.econbiz.de/10014402366

Closing a failed bank : resolution practices and procedures

Parker, David C. - 2011

This manual addresses problem bank resolution from the time a bank is identified as being in financial trouble through intervention to liquidation. It comes with an interactive CD-ROM from which users can download and tailor documents to use in their own closing processes. The book draws on the...

Persistent link: https://www.econbiz.de/10014402624

Bankruptcy and Firm Dynamics : The Case of the Missing Firms

Rodríguez-Delgado, Jose Daniel - 2010

Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate...

Persistent link: https://www.econbiz.de/10014402687

International Transmission of Bank and Corporate Distress

N'Diaye, Papa M'B. P. - 2010

The paper evaluates how increases in banks’ and nonfinancial corporates’ default risk are transmitted in the global economy, using in a vector autoregression model for 30 advanced and emerging economies for the period from January 1996 to December 2008. The results point to two-way causality...

Persistent link: https://www.econbiz.de/10014402720