Results 31 to 40 of about 74,773 (43)

Market Valuation of Cash Holdings: Role of Default Risk During COVID-19

Journal of Emerging Market Finance
This study utilizes the exogenous shock of the COVID-19 pandemic to test whether the market values the precautionary motive of cash holding. Our analysis considers the period 2017–2020 to capture the market value of cash holdings owing to the ...
Soumya Sankar Chakraborty, Mehul Raithatha, Tara Shankar Shaw   +2 more
semanticscholar   +1 more source

Monetary Policy and Rational Asset Price Bubbles: Comment

The American Economic Review
Galí (2014) showed that a monetary policy rule that raises rates when bubbles exceed some steady-state benchmark can paradoxically lead to larger deviations from steady state.
Franklin Allen, Gadi Barlevy, Douglas M. Gale   +2 more
semanticscholar   +1 more source

Anatomy of the Greek Depression with Firm-Level Data: The Importance of Demand Shocks

American Economic Journal: Macroeconomics
During the Greek Depression, which saw a 22 percent decline in output, young firms and small firms experienced significantly steeper declines in sales growth compared to their mature and larger counterparts.
Stelios Giannoulakis, Plutarchos Sakellaris   +1 more
semanticscholar   +1 more source

Financial Frictions, Capital Misallocation, and Input-Output Linkages

American Economic Journal: Macroeconomics
I study how input-output linkages amplify the aggregate impact of sectoral financial distortions in a dynamic general equilibrium model with endogenous capital wedges.
Hsuan-Li Su
semanticscholar   +1 more source

The Shadow Cost of Collateral

Social Science Research Network
We quantify the cost of pledging collateral for small businesses by exploiting a regulatory quirk of the SBA disaster lending program in which firms are exempt from posting collateral if their loan size is below a threshold.
Guangqian Pan, Zheyao Pan, Kairong Xiao
semanticscholar   +1 more source

What do Financial Markets say about the Exchange Rate?

Social Science Research Network
Financial markets play two roles with implications for the exchange rate: they accommodate risk-sharing and act as a source of shocks. In prevailing theories, these roles are seen as mutually exclusive and individually face challenges in explaining ...
Mikhail Chernov, Valentin Haddad, Oleg Itskhoki   +2 more
semanticscholar   +1 more source

Corporate Loan Spreads and Economic Activity

The Review of financial studies
We investigate the predictive power of loan spreads for forecasting business cycles, specifically focusing on more constrained, intermediary-reliant firms.
Anthony Saunders, Alessandro Spina, Sascha Steffen, D. Streitz   +3 more
semanticscholar   +1 more source

The Effects of Macroeconomic Shocks: Household Financial Distress Matters

The Review of financial studies
When a macroeconomic shock arrives, variation in household balance sheet health (captured by the presence of financial distress, or “FD”) leads to differential access to credit and hence a distribution in consumption responses.
José Mustre-del-Ŕıo, Juan M. Sánchez, Ryan Mather, Kartik B. Athreya   +3 more
semanticscholar   +1 more source

Credit Supply Shocks and Prices: Evidence from Danish Firms

American Economic Journal: Macroeconomics
We study the response of firms’ output prices to a cut in credit supply. We combine data on loans between Danish firms and banks with survey-based producer prices and transaction-based export unit values.
Tobias Renkin, Gabriel Züllig
semanticscholar   +1 more source

Modelling (A)symmetric Nexus Between Macroeconomic Information Sentiment Biases and Stock Market Returns in Case of India: A Bound Test Approach

The Indian Economic Journal
This research attempts to scrutinise the asymmetric nexus of macroeconomic factors in determining the financial stock market performance using index returns of BSE-SENSEX and NSE-NIFTY as proxies for stock market performance in India. The auto-regressive
Prem Vaswani, M. Padmaja
semanticscholar   +1 more source