Tatiana Didier,Federico Huneeus,Mauricio Larrain et al.
Tatiana Didier et al.
The coronavirus (COVID-19) pandemic halted economic activity worldwide, hurting firms and pushing many of them toward bankruptcy. This paper discusses four central issues that have emerged in the academic and policy debates related to firm ...
Portfolio diversification during the COVID-19 pandemic: Do vaccinations matter? [0.03%]
新冠疫情期间的资产组合多元化：疫苗接种有影响吗？
Son Duy Pham,Thao Thac Thanh Nguyen,Hung Xuan Do et al.
Son Duy Pham et al.
The COVID-19 vaccine rollout expects to mitigate the severe negative impacts of the pandemic on global financial markets. Our study provides supporting evidence for this expectation. We find robust evidence that vaccinations significantly r...
Debt rollover risk, credit default swap spread and stock returns: Evidence from the COVID-19 crisis [0.03%]
债务展期风险、信用违约掉期利差与股票收益：来自新冠疫情的证据
Ya Liu,Buhui Qiu,Teng Wang
Ya Liu
This paper studies how the COVID-19 shock affects the CDS spread changes and abnormal stock returns of U.S. firms with different levels of debt rollover risk. We use the COVID-19 crisis as a quasi-natural experiment of adverse cash flow sho...
A note on regulatory responses to COVID-19 pandemic: Balancing banks' solvency and contribution to recovery [0.03%]
关于新冠肺炎疫情的监管应对措施的几点说明：权衡银行的偿付能力和对经济复苏的贡献
Mohammad Bitar,Amine Tarazi
Mohammad Bitar
We discuss the implications on banks and the economy of prudential regulatory intervention to soften the treatment of non-performing exposures (NPEs) and ease bank capital buffers. We apply these easing measures on a sample of Globally Syst...
Elizabeth Duncan,Akos Horvath,Diana Iercosan et al.
Elizabeth Duncan et al.
The broad economic damage of the COVID-19 pandemic poses the first major test of the bank regulatory reforms put in place after the Global Financial Crisis. Our study assesses the U.S. regulatory framework, with an emphasis on capital and l...
Allen N Berger,Asli Demirgüç-Kunt
Allen N Berger
Despite the devastating worldwide human and economic tolls of the COVID-19 crisis, it has created some positive economic and financial surprises and opportunities for research. This paper highlights two such favorable surprises - the shorte...
Manthos D Delis,Christos S Savva,Panayiotis Theodossiou
Manthos D Delis
We study an equilibrium risk and return model to explore the effects of the coronavirus crisis and associated skewness on the market price of risk. We derive the moment and equilibrium equations, specifying skewness price of risk as an addi...
Peter Chinloy,Cheng Jiang,Kose John
Peter Chinloy
Time-varying depreciation rates are estimated for research and development of the United States aggregate economy and innovation-intensive industries. Mean annual R&D depreciation rates are 31.5% for software, 41% for pharmaceuticals, 42% f...
Lucia Alessi,Erica Francesca Di Girolamo,Andrea Pagano et al.
Lucia Alessi et al.
This paper uses a stylized simulation model to assess the potential impact of climate transition risk on banks' balance sheets in a climate-stress-testing (i.e. short-run) framework. We show that a moderate to high transition risk increases...