Do temporary changes in earnings caused by mean reversion affect firms’ refinancing decisions?
Abstract We develop a dynamic two‐stage trade‐off model with refinancing when earnings are mean reverting. Our model predicts a negative relation between profitability and leverage at refinancing due to conservative debt increases. With multiple rounds of refinancing, the leverage–profitability relation may turn positive when firms have substantial ...
Elettra Agliardi +3 more
wiley +1 more source
Capturing the spatiotemporal spread of COVID-19 in 30 European countries during 2020 - 2022. [PDF]
Nguyen THT, Hens N, Faes C.
europepmc +1 more source
Financial Fragility and the Fiscal Multiplier
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK +1 more
wiley +1 more source
Time-Lagged Effects of Hyperglycemia on Inflammation in Older Adults with Community-Acquired Pneumonia: Nutritional Insights and Personalized Intervention Windows. [PDF]
Miao L, Xiao Q, Liao J, Xie C, Shen X.
europepmc +1 more source
Heterogeneity in Imperfect Inflation Expectations: Theory and Evidence from a Novel Survey
Abstract Using survey data from Germany, we study heterogeneity in how households form inflation expectations. We elicit (i) uncertainty in perceptions of current inflation and (ii) how persistent households perceive inflation to be. Combining these with standard survey questions on inflation, we infer laws of motion for expectations at the individual ...
ALISTAIR MACAULAY, JAMES MOBERLY
wiley +1 more source
A health and economic evaluation of the spatial spillover effect from measles resurgence. [PDF]
Xie K +5 more
europepmc +1 more source
Empirical Literature on Fiscal Multipliers: A Bibliometric Approach, 2002–2023
ABSTRACT This paper reviews the empirical literature on fiscal multipliers through a bibliometric approach, analyzing 337 journal articles published between 2002 and 2023. The articles are categorized based on empirical methodologies, fiscal shock identification strategies, geographic focus, exchange rate arrangements, and macro‐financial regime ...
Margarida Correia Varela +1 more
wiley +1 more source
Integrated Surveillance for Human and Animal Brucellosis in Kenya: A Predictive Analysis. [PDF]
Kahariri S +9 more
europepmc +1 more source
The Monetary Policy–Commodities Nexus: A Survey
ABSTRACT This survey synthesizes evidence on the bidirectional links between commodity markets and monetary policy. On the commodities‐to‐policy side, we review how shocks to energy, food, and metals pass through to inflation, inflation expectations, economic activity, and financial stability in state‐dependent ways that vary by shock type, exposure ...
Martin T. Bohl +2 more
wiley +1 more source
A study on spatial association of poor child health outcomes and multidimensional poverty in India. [PDF]
Das P +5 more
europepmc +1 more source

