نتایج جستجو برای: short term credit

تعداد نتایج: 915229  

Journal: :American economic journal. Applied economics 2012
Joseph P Kaboski Robert M Townsend

This paper evaluates the short-term impact of Thailand's 'Million Baht Village Fund'program, among the largest scale government microfinance iniative in the world, using pre- and post-program panel data and quasi-experimental cross-village variation in credit-per-household. We find that the village funds have increased total short-term credit, consumption, agricultural investment, income growth...

2011

This paper evaluates the short-term impact of Thailand’s ‘Million Baht Village Fund’program, among the largest scale government microfinance iniative in the world, using preand post-program panel data and quasi-experimental cross-village variation in credit-per-household. We find that the village funds have increased total short-term credit, consumption, agricultural investment, income growth (...

2009
Carl E. Walsh

Central banks in the major industrialized economies implement policy by intervening in the money market to achieve a target level for a short-term interest rate.1 Why central banks use a short-term interest rate as a policy instrument, and how they achieve the targeted value they set for this rate are topics to be discussed in chapter 11. The focus in this chapter is on the role of …nancial mar...

2007
Samson Assefa

We present the multi-factor quadratic reduced form model for pricing of credit risky securities. We use quadratic Gaussian processes to model the short term interest rate and the intensity of default showing that we get tractable formulas for the price of credit default swaps and credit default swaptions.

2012
Gechun Liang Eva Lütkebohmert Wei Wei

We propose a unified structural credit risk model incorporating insolvency, recovery and rollover risks. The firm finances itself mainly by issuing shortand long-term debt. Short-term debt can have either a discrete or a more realistic staggered tenor structure. We show that a unique threshold strategy (i.e., a bank run barrier) exists for short-term creditors to decide when to withdraw their f...

2014
Zhiping Zhou

We estimate a no-arbitrage term structure model of U.S. Treasury yields and corporate bond spreads with both economic factors and latent factors as drivers of term structure dynamics. We consider two sets of economic factors: macro factors consisting of inflation and real activity, and financial market factors consisting of funding liquidity and market volatility. We show that financial market ...

Journal: :Management Science 2013
Jian Yang Yinggang Zhou

Using credit default swap data, we propose a novel empirical framework to identify the structure of credit risk networks across international major financial institutions around the recent global credit crisis. The findings shed light on the credit risk transmission process and helps identify key financial institutions. Specifically, we identify three groups of players including prime senders, ...

2017
Xinkuo Xu Liyan Han

This paper surveys the diverse effects of consumer credit on household carbon emissions (HCEs) based on consumption patterns revealed by urban Chinese survey data. Based on the foundation of existing literature, consumption patterns and influential factors are carefully chosen to build empirical models that apply Heteroscedasticity-consistent covariance matrix estimation and quantile regression...

2000
Melanie Cao Jason Wei

In the current literature, the focus of credit risk analysis has been either on the valuation of risky corporate bond and credit spread, or on the valuation of vulnerable options, but never both in the same context. There are two main concerns with existing studies. First, corporate bonds and credit spreads are generally analyzed in a context where corporate debt is the only liability of the ̄r...

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