Results 311 to 320 of about 1,452,805 (356)
SSRN Electronic Journal, 2011 We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative characteristics of observed wealth and debt portfolios for prime ...
Hintermaier, Thomas, Koeniger, Winfried
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SSRN Electronic Journal, 2010
ABSTRACTThis paper examines debt structure using a new and comprehensive database on types of debt employed by public U.S. firms. We find that 85% of the sample firms borrow predominantly with one type of debt, and the degree of debt specialization varies widely across different subsamples—large rated firms tend to diversify across multiple debt types,
COLLA, PAOLO, IPPOLITO, FILIPPO, K. Li
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ABSTRACTThis paper examines debt structure using a new and comprehensive database on types of debt employed by public U.S. firms. We find that 85% of the sample firms borrow predominantly with one type of debt, and the degree of debt specialization varies widely across different subsamples—large rated firms tend to diversify across multiple debt types,
COLLA, PAOLO, IPPOLITO, FILIPPO, K. Li
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Journal of Health Economics, 2010 We examine the effect of household financial indebtedness on psychological well-being using a large household survey of families with children in Britain. Existing studies that find a link between debt and depression tend to utilise small and highly selective samples of people and only self-reported measures of financial stress, responses to which are ...
Richard Disney, Sarah Bridges
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Brookings Papers on Economic Activity, 2003 This paper introduces the concept of debt intolerance,' which manifests itself in the extreme duress many emerging markets experience at debt levels that would seem manageable by advanced country standards. We argue that safe' external debt-to-GNP thresholds for debt intolerant countries are low, perhaps as low as 15 percent in some cases.
Reinhart, Carmen +2 more
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How Does Financing Impact Investment? The Role of Debt Covenants
, 2007We identify a specific channel (debt covenants) and the corresponding mechanism (transfer of control rights) through which financing frictions impact corporate investment.
S. Chava, Michael R. Roberts
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Debt Overhang and Debt Restructuring
SSRN Electronic Journal, 2012This paper analyzes how debt forgiveness and exchange offers resolve inefficiencies associated with debt overhang in a dynamic setting. In a static model debt forgiveness and exchange offers are equivalent -- in a dynamic model they are not. Debt forgiveness is feasible as a means to restructure debt when the firm expands into a competitive market ...
Norvald Instefjord, Pascal Frantz
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The Behavior of U. S. Public Debt and Deficits
, 1998How do governments react to the accumulation of debt? Do they take corrective measures, or do they let the debt grow? Whereas standard time series tests cannot reject a unit root in the U. S.
Henning Bohn
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2002
Singer was an early advocate for addressing the debt problem of the developing countries and the high level of debt servicing that they accumulated in the 1980s. He recalled the history of the debt crisis, which was often forgotten (Singer, 1989m). The immediate cause was the large financial surpluses of the oil producing countries following the two ...
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Singer was an early advocate for addressing the debt problem of the developing countries and the high level of debt servicing that they accumulated in the 1980s. He recalled the history of the debt crisis, which was often forgotten (Singer, 1989m). The immediate cause was the large financial surpluses of the oil producing countries following the two ...
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Debt relief and debt rescheduling
Journal of Development Economics, 1991Abstract In this paper we study the implications of assuming that bank syndicates and debtor countries entered into implicit debt contracts during the 1970s. Our approach rests on the assumption that loan contracts charged a risk premium because banks entertained the possibility of borrowers' default.
Guillermo A. Calvo, Graciela Kaminsky
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The Maturity Structure of Corporate Debt
, 1995The authors provide an empirical examination of the determinants of corporate debt maturity. Their evidence offers strong support for the contracting-cost hypothesis.
Michael J. Barclay, Clifford W. Smith
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