Relating Equity and Credit Markets through Structural Models: Evidence from Volatilities docx

... main sample and are not included in the summary statistics or volatilities reported in Tables 1 to 7. 19 Relating Equity and Credit Markets through Structural Models: Evidence from Volatilities Jack ... co-movement of returns in the credit and equity markets can be characterized correctly on average by a Merton model, the value in credit markets sometimes...

Ngày tải lên: 22/03/2014, 20:20

... and the education of the people who run the financial institution and the institution’s customers using data on village financial institutions and households from rural and semi- urban Thailand. ... average duration of the loan, and the number of types of loans offered are insignificant. Human Capital and the Development of Financial Institutions: Evidence from Thailand Anna...

Ngày tải lên: 06/03/2014, 10:20

... $150-$200 million. 14 equity and debt markets and not public markets, the converse does D@ generally hold for large f]rms. Even after firms are able to access public equity and debt markets, they often ... larger equity share by buying out some of the other insider owners and insider debt. As noted above, much of the seed money often comes in the form of equity and debt...

Ngày tải lên: 15/03/2014, 21:20

... ‘Bankruptcy and Small Firms’ Access to Credit, ’ RAND Journal of Economics, 35, 69-84. Brown, M., Jappelli, T., and Pagano, M. (2009), ‘Information Sharing and Credit: Firm-Level Evidence from Transition ... 706-718. 20 Grant, C. and Padula, Mario (2006), ‘Informal Credit Markets, Judicial Costs and Consumer Credit: Evidence from Firm Level Data,’ Centre for St...

Ngày tải lên: 22/03/2014, 20:20

... freedom. The left hand plot shows 5000 points from a standard bivariate normal distribution; the right-hand plot shows 5000 points from a composite distribution with a t copula and standard normal margins. ... be structurally equivalent. To understand this assertion we review the concept of copulas and state a simple proposition which is the basis of comparing existing models and de...

Ngày tải lên: 06/03/2014, 04:21

... titles and credit markets. This paper is organized as follows. Section 2 outlines what a land titling system involves and briefly discusses the evolution of land and real estate rights and credit ... for the World Bank: New York. Deininger, K., and G. Feder (2001). ‘Land Institutions and Land Markets , in B.L. Gardner and G.C. Rausser (eds), Handbook of Agricultural...

Ngày tải lên: 06/03/2014, 04:21

... Following Chib (1995) and Chib and Jeliazkov (2001) we proceed by factorising ln G  ˆ Ξ\Z t  into conditional and marginal densities of various parameter blocks and using additional and Gibbs and Metropolis ... inflation and interest rates under structural change: a comparison of models with time-varying parameters Alina Barnett, (1) Haroon Mumtaz (2) and Konstantinos The...

Ngày tải lên: 06/03/2014, 14:20

... Trabajo N o 53 CNMV Credit- risk valuation in the sovereign CDS and bonds markets: Evidence from the euro area crisis Credit- risk valuation in the sovereign CDS and bonds markets: Evidence from the euro ... Belgium, Finland, France, Germany, Greece, Ireland, Italy, The Netherlands, Portugal, and Spain) from January 2004 to October 2011. Bond yields are obtained from...

Ngày tải lên: 15/03/2014, 07:20

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