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Not cashing in on cashing out : an analysis of low cash-out refinance rates

Hossain, Mallick; Livshits, Igor; Wardius, Collin - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609883

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Not cashing in on cashing out : an analysis of low cash-out refinance rates

Hossain, Mallick; Livshits, Igor; Wardius, Collin - 2023

Book / Working Paper

The expert assessment within Banca d'Italia's in-house credit assessment system

Esposito, Lorenzo; Guglielmi, Massimo; Monterisi, Francesco - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613766

The response of debtors to rate changes

Fuster, Andreas; Gianinazzi, Virginia; Hackethal, Andreas; … - 2026

How borrowers respond to future changes in the interest rate on their debt matters for the transmission of monetary policy and for household financial stability. Combining bank data, a letter RCT, and a survey, we study this question in the context of the German mortgage market, where since 2022...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592035

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The response of debtors to rate changes

Fuster, Andreas; Gianinazzi, Virginia; Hackethal, Andreas; … - 2026

Book / Working Paper

The response of debtors to rate changes

Fuster, Andreas; Gianinazzi, Virginia; Hackethal, Andreas; … - 2026

Book / Working Paper

Chasing lower rates : how households balance refinancing incentives and debt constraints

Gregor, Jiří; Janků, Jan - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015593671

Measuring the impact of property insurance premiums on the mortgage market

Meisenzahl, Ralf R.; Polacek, Andy; Ramnath, Shanthi; … - 2026

We document that increases in property insurance premiums reduce mortgage originations. The effect is strongest for the rate refinancing and cash-out refinancing segments. We show that denials associated with increased premiums are significantly more likely attributed to high debt-to-income...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591522

Coordinating in the haircut, a model of sovereign debt restructuring in secondary markets

Cobas, Adriana - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625230

Sri Lanka's debt crisis : a crisis of governance

Dryden, Alex; Volz, Ulrich - 2026

This paper examines the origins, evolution, and resolution efforts surrounding Sri Lanka's 2022 sovereign debt default. Many defaults are triggered by sudden external shocks, but, in contrast, Sri Lanka's crisis was largely the result of prolonged domestic policy failures, including chronic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628624

Flexible debt relief and credit behavior : evidence from loan-level data

Worarit Vannavanit; Sommarat, Chantarat; Lathaporn … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015650751

Where are all of Asia's debt-for-nature swaps?

Dryden, Alexander - 2026

Since their inception in 1987, debt-for-nature swaps (D4NS) have emerged as a popular policy tool to simultaneously address sovereign debt burdens and environmental challenges. Drawing on a newly constructed database of global D4NS transactions, this paper shows that Asian economies have played...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015637221

Toward a common methodology for restructuring sovereign domestic debt

Grigorian, David A. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015424094

Resolving insolvency : labour-market consequences of personal debt restructuring

Hassink, Wolter H. J.; Muller, Lotte; Dijk, Frans van; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471278

Monetary policy and bank funding costs : patterns and predictability in the transmission of the policy rate to U.S. banks' funding costs

Dias, Daniel; Scott, Sophia C. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015471430

Are people systematically inactive across financial decisions? : linking evidence from mortgage and retirement saving decisions

Andersen, Henrik Yde; Christensen, Camilla Skovbo; … - 2025

Many people forgo substantial economic gains by not responding to financial incentives, even in major decisions such as retirement savings and mortgage refinancing. But do the same people systematically fail to respond across financial contexts? We study this using a quasi-experimental setting...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015458574

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Are people systematically inactive across financial decisions? : linking evidence from mortgage and retirement saving decisions

Andersen, Henrik Yde; Christensen, Camilla Skovbo; … - 2025

Book / Working Paper

Are people systematically inactive across financial decisions? : linking evidence from mortgage and retirement saving decisions

Andersen, Henrik Yde; Christensen, Camilla Skovbo; … - 2025

Book / Working Paper

Corporate litigation and the level of business risk bearing : mediating effect of refinancing and its dynamic relationship

Zhang, Ni; Zhou, Lixin; Tian, Grace Li - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015460213

Mortgage refinancing and the marginal propensity to consume

2025

This paper investigates the role of mortgage refinancing in shaping the estimates of marginal propensity to consume (MPC) and its implications for fiscal policy. Using U.S. household data, we find that MPCs decrease during the year of mortgage refinancing and stabilize afterwards, particularly...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015430277

Financial distress prediction in private firms : developing a model for troubled debt restructuring

Mehmood, Asad; De Luca, Francesco - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611938

Sri Lanka’s Sovereign Debt Restructuring : Lessons from Complex Processes

Breuer, Peter - 2025

Sri Lanka’s debt restructuring distinguishes itself from others by its complexity due to a particularly diverse creditor landscape and novel instruments issued in the restructuring. Not eligible for the G20 Common Framework for Debt Treatments, Sri Lanka had to navigate the challenges of a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613092

The puzzle of carbon allowance spread

Azzone, Michele; Baviera, Roberto; Manzoni, Pietro - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015593137

Socialisation, policy opportunity, and bureaucratic bargaining : explaining China's zig-zag engagement with multilateral debt restructuring

Huang, Yufan; Bräutigam, Deborah A. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015550592

Official sovereign debt

Arellano, Cristina; Barreto, Leonardo - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556699

Resolution of financial distress in SMEs : how do family ownership and involvement affect second chance?

Magri, Carlotta; Bertacchini, Federico; Marchini, Pier Luigi - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015585077

Designing debt restructuring : the adverse effects on labor market outcomes

Beuschlein, Jakob - 2025

This paper examines how the design of debt restructuring or personal insolvency programs shapes labor market outcomes using Sweden as a case study. In the Swedish debt restructuring program, debt is forgiven following a 5-year partial repayment period. I estimate the causal effects of the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015657383

Britain's debt restructuring, 1717-22

Velde, François R. - 2025

Britain's debt was nil in 1688 and 60% of GDP in 1717. From 1717 to 1722 the debt was restructured, including through the South Sea operation of 1720. I discuss the reasons for the restructuring and the tensions it revealed between taxpayers and creditors. The South Sea bubble turned the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015482708

From debt reset to growth onset? : sovereign debt restructuring and firm performance in developing countries

Ferry, Marin; Jacolin, Luc; DuFresne, Quentin; Léon, … - 2025

Leveraging a unique dataset that combines country-level information on debt restructuring with firm-level data from theWorld Bank Enterprise Surveys (WBES) spanning from 2004 to 2023, we analyze the effects of debt restructuring on firm sales growth. Using recent advancements in...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015534030

Debt restructuring with multiple bank relationships

Baglioni, Angelo; Colombo, Luca; Rossi, Paola - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015558704

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Debt restructuring with multiple bank relationships

Baglioni, Angelo; Colombo, Luca; Rossi, Paola - 2019

Book / Working Paper

Debt restructuring with multiple bank relationships

Baglioni, Angelo; Colombo, Luca; Rossi, Paola - 2018

Book / Working Paper

Debt Restructuring with Multiple Bank Relationships

Baglioni, Angelo S. - 2019

Book / Working Paper

Sovereign default intensity and noise bargaining

Gordon, Grey; Guerrón-Quintana, Pablo A. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015559262

Refinancing fixed-rate mortgages and homeowners' financial resilience

Nissen, Rikke Rhode; Grenestam, Erik Axel; Andersen, … - 2025

Almost half of mortgage lending to homeowners in Denmark consists of 30-year fixed-rate loans. The loans are callable, so homeowners can redeem their loan and take out a new one if, for example, they want to refinance at a lower rate if interest rates fall. We calculate a financial incentive for...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015402197

Refinancing risk, earnings management, and stock return

Wang, Shu Feng; Kim, Yura; Kim, Seonmi; Song, Kyojik Roy - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015056477

Inframarginal borrowers and the mortgage payment channel of monetary policy

Ringo, Daniel - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015056523

Can participation in IMF programs facilitate sovereign debt rescheduling? : the role of program size

Bai, Ye; Banerji, Sanjay; Wang, Zilong; Zhang, Wenjing - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014551380

Sovereign debt restructuring and credit recovery

Gutkowski, Violeta A. - 2024

This paper focuses on the significant growth of domestic credit once the debt is restructured, and shows that it is not correlated with the size of the haircut. Second, it performs an event study around Ecuador’s sovereign default and restructuring of 2008–2009 to study changes in domestic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015376485

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Sovereign debt restructuring and credit recovery

Gutkowski, Violeta A. - 2024

Book / Working Paper

Sovereign Debt Restructuring and Credit Recovery

Gutkowski, Violeta - 2022

Book / Working Paper

The IMF's April 2024 policy reforms and sovereign debt restructuring

Henning, C. Randall - 2024

The Common Framework for Sovereign Debt Restructuring provides a process for easing debt burdens on low-income countries but has operated too slowly for the four countries that have so far sought relief under it. Official bilateral creditors that are not members of the Paris Club are often...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015075084

Sovereign debt disclosure

Guler, Bulent; Önder, Yasin Kürşat; Taskin, Temel - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574528

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Sovereign debt disclosure

Guler, Bulent; Önder, Yasin Kürşat; Taskin, Temel - 2024

Book / Working Paper

Counterparty choice, maturity shifts and market freezes : lessons from the European interbank market

Saroyan, Susanna - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014532482

Sovereign debt issuance and selective default

Paczos, Wojtek; Shakhnov, Kirill - 2024

Sovereigns issue debt on both domestic and foreign markets and the two debts are uncorrelated in the data. Sovereigns default mostly selectively. We propose a theory to rationalize these observations. A government chooses the optimal combination of two debts to smooth consumption, which is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014491202

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Sovereign Debt Issuance and Selective Default

Paczos, Wojtek - 2020

Book / Working Paper

Domestic and foreign sovereign debt stability

Torres, Leonardo Barros; Paczos, Wojtek; Shakhnov, Kirill - 2024

We present a theory of determinants of sovereign debt stability on foreign and domestic markets. Besides the two traditional factors - debt size and output contractions, we highlight the role of the third factor: distortionary tax, which hinders the government’s ability to freely raise...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014491753

More tax, less refi? : the mortgage interest deduction and monetary policy pass-through

Scharlemann, Tess; Van Straelen, Eileen - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015136001

Sovereign debt sustainability with involuntary default

Collard, Fabrice; Habib, Michel Antoine; Panizza, Ugo; … - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015154294

Rating the raters : a central bank perspective

Columba, Francesco; Orsini, Federica; Tranquillo, Stefano - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015147852

The use of the Eurosystem's monetary policy instruments and its monetary policy implementation framework in 2022 and 2023

2024

The Eurosystem implements its monetary policy through a set of monetary policy instruments (MPIs). The period covered by this report (2022-23) was dominated by high inflation, which led to a change from an easing to a tightening monetary policy environment in line with the mandate of the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015052097

Risky sovereign bond holdings by commercial banks in the euro area : do safe assets availability and differences in bank funding costs play a role?

Jochem, Axel; Lecomte, Ernest - 2024

Commercial banks in some euro area member states hold large amounts of sovereign debt that offer a risk premium and hence higher yields than AAA-rated bonds issued by the most creditworthy countries. In particular, banks in vulnerable countries exhibit a bias towards domestically issued...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015052425

Guidance Note On The Financing Assurances And Sovereign Arrears Policies And The Fund's Role In Debt Restructurings

2024

Under its Articles of Agreement, the Fund may only provide financing to assist members to resolve their balance of payments problems and restore medium-term external viability and may only do so under adequate safeguards. The Fund's inter-related policies on financing assurances, debt...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015328285

Debt for Development Swaps: An Approach Framework

2024

The aim of this note is to help stakeholders optimize their decision-making on when, where, and how to use debt-for-development swaps ("debt swaps"), ensuring they bring the intended benefits to all parties involved. It also proposes new approaches to structure these mechanisms, making them less...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015328529

Ghana : a case study of sovereign debt restructuring under the G20 common framework

Grigorian, David A.; Vessereau, Lili - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015405395

Take it and leave it : banks' balance sheet optimization and targeted longer-term refinancing operations

Sigmund, Michael; Wächtler, Johannes; Schuster, Philip; … - 2024

We develop and solve a dynamic optimization model of a bank's balance sheet, highlighting the critical factors influencing banks' optimization dynamics: balance sheet adjustment costs and the spreads between bank-specific lending and deposit rates and the interbank rate. We apply the model to...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015053519

China and the common framework : understanding the motives behind debt relief provision to low-income countries

Grigorian, David A.; Tang, Winston - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015130564

Zambia : a case study of sovereign debt restructuring under the G20 common framework

Grigorian, David A.; Bhayana, Aditya - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015130565

Non-neutral monetary policy towards sustainability in the Eurozone : an analysis of refinancing operations and minimum reserve policy

Walter, Johann - 2024

This article reviews the discussion with respect to a justification of a non-neutral monetary policy and analyses design options for such a policy. The analysis is limited to refinancing operations and minimum reserve policy. Monetary policy with a green bias, while being controversially...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015427446

The evolution of the Eurosystem operational framework and how recent changes may impact banks in Ireland

Larkin, John; Frayne, Elizabeth; MacKiernan, Anne Marie - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015590485

Audit quality and debt restructuring : evidence from Italy

Magri, Carlotta; Marchini, Pier Luigi - 2024

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10014473320