3 Ergebnisse

Partisan conflict and policy uncertainty are frequently invoked as factors contributing to slow post-crisis recoveries. Recent events in Europe provide ample evidence that the political aftershocks of financial crises can be severe. In this paper we...

We analyze cascades of defaults in an interbank loan market. The novel feature of this study is that the Network structure and the size distribution of banks are derived from empirical data. We find that the ability of a defaulted institution to...

We use a comprehensive firm level data set to assess the role of firm heterogeneity in the link between financial health and firm survival. The data are for the UK and France, two countries with different financial systems. First, we investigate the...