the main objective of this study is analysis of effective factors on production risk management among orange farmers. statistical population of research included all orange farmers of jiroft (kerman province). using the cochran formula were selected 25 cases, but to increase the validity of the research findings, by class random sampling the number of 125 questionnaire distribution among the me...

THE RECENT FINANCIAL CRISES IN EAST Asia, Russia, and elsewhere, and the earlier crisis in Mexico, have heightened interest in the subject of short-term borrowing by developing countries and the benefits and risks associated with such debt.1 This chapter examines the growth and determinants of short-term debt from international banks, the behavior of such debt during economic shocks, and its as...

In this paper, we build up a signaling model that links management pay-off in corporate restructuring (widely known as absolute priority violations) and optimal composition of a firm’s debt. We show that in the event of corporate reorganization and the renegotiation of debt claims, the management receives a pay-off that consists of two elements. (a) A signaling component that sends a message to...

Monetary policy influences the economy through its effects on credit conditions facing households and firms, for example, the interest rates available on bank deposits and bank loans, and the cost of capital for firms, be it in the form of bank credit, debt issued on the capital market, or equity. While it is convenient for analytical purposes to assume that the monetary authority controls the ...

Much of the literature on capital inflow sudden stops uses models with short term debt only but draws conclusions about the role of debt maturities in crises. In this paper short and long term debt are introduced in an infinite horizon, representative agent model that is consistent with modern open economy macroeconomic models of the type presented in Obstfeld and Rogoff (1996). Phase diagrams ...

Governments in emerging markets often behave like a “tormented insurer,” who would like to smooth government outlays given the randomness of public revenues in an imperfect world where the only public debt instrument is a non-state-contingent bond denominated in units of tradable goods. How can a fiscal authority tell if the stock of public debt is consistent with fiscal solvency in this enviro...

We empirically analyze the impact of uninsured deposits on a bank’s cost of public debt. Uninsured depositors can exert market discipline over a bank and potentially reduce its agency cost of debt through informed monitoring. We use a sample of public bond issues by U.S. bank holding companies from 1994 to 2013 and find statistically strong evidence that banks with more uninsured deposits relat...

Through a cost-minimizing approach, this paper derives four joint indicators to assess the ef…ciency of the mix of sovereign debt currencies between the countries belonging to the European Monetary Union (EMU). This theoretical insight enables us to explain why and how the introduction of the euro and the adoption of a common monetary policy may have led to signi…cant changes in debt structure ...

It may be downloaded, printed and reproduced only for personal or classroom use. Absolutely no downloading or copying may be done for, or on behalf of, any for‐profit commercial firm or other commercial purpose without the explicit permission of the Econometric Society. For this purpose, contact Claire Sashi, General Manager, at [email protected]. 1 We consider the problem of the des...