How much leverage is too much, or does corporate risk determine the severity of a recession? /
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Author / Creator: | Ivaschenko, Iryna V., author. |
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Imprint: | [Washington, D.C.] : International Monetary Fund, ©2003. |
Description: | 1 online resource (32 pages) : illustrations |
Language: | English |
Series: | IMF working paper, 2227-8885 ; WP/03/3 IMF working paper ; WP/03/3. |
Subject: | |
Format: | E-Resource Book |
URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12496315 |
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050 | 4 | |a HG3881.5.I58 |b W67 no.03/3 | |
100 | 1 | |a Ivaschenko, Iryna V., |e author. |0 http://id.loc.gov/authorities/names/no2001030107 | |
245 | 1 | 0 | |a How much leverage is too much, or does corporate risk determine the severity of a recession? / |c Iryna Ivaschenko. |
260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2003. | ||
300 | |a 1 online resource (32 pages) : |b illustrations | ||
336 | |a text |b txt |2 rdacontent | ||
337 | |a computer |b c |2 rdamedia | ||
338 | |a online resource |b cr |2 rdacarrier | ||
490 | 1 | |a IMF working paper, |x 2227-8885 ; |v WP/03/3 | |
504 | |a Includes bibliographical references (pages 29-32). | ||
506 | |3 Use copy |f Restrictions unspecified |2 star |5 MiAaHDL | ||
533 | |a Electronic reproduction. |b [Place of publication not identified] : |c HathiTrust Digital Library, |d 2010. |5 MiAaHDL | ||
538 | |a Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. |u http://purl.oclc.org/DLF/benchrepro0212 |5 MiAaHDL | ||
583 | 1 | |a digitized |c 2010 |h HathiTrust Digital Library |l committed to preserve |2 pda |5 MiAaHDL | |
588 | 0 | |a Print version record. | |
520 | |a Economic theory suggests that vulnerable financial conditions of the corporate sector can trigger or worsen an economy-wide recession. This paper proposes a measure of corporate vulnerability, the Corporate Vulnerability Index (CVI) and analyses whether it can explain the probability and severity of recessions. The CVI is constructed as the default probability for the entire corporate sector, using the model of corporate debt by Anderson, Sundaresan, and Tychon (1996). The CVI is shown to be a significant predictor of the probability of a recession 4 to 6 quarters ahead, even controlling for other leading indicators. An increase in the CVI is also associated with an increase in the probability of a more severe and lengthy recession 3 to 6 quarters ahead. | ||
546 | |a English. | ||
650 | 0 | |a Recessions |x Effect of corporate debt on |v Econometric models. | |
650 | 0 | |a Financial crises |x Forecasting |x Econometric models. | |
650 | 0 | |a Business cycles |x Forecasting |x Econometric models. | |
650 | 0 | |a Recessions |x Econometric models. | |
650 | 0 | |a Financial crises |x Econometric models. | |
650 | 6 | |a Récessions |x Modèles économétriques. | |
650 | 6 | |a Crises financières |x Modèles économétriques. | |
650 | 6 | |a Cycles économiques |x Prévision |x Modèles économétriques. | |
650 | 7 | |a Financial crises |x Econometric models. |2 fast |0 (OCoLC)fst00924608 | |
650 | 7 | |a Recessions |x Econometric models. |2 fast |0 (OCoLC)fst01091359 | |
655 | 4 | |a Electronic books. | |
710 | 2 | |a International Monetary Fund. |b Western Hemisphere Department. |0 http://id.loc.gov/authorities/names/n82237138 | |
776 | 0 | 8 | |i Print version: |a Ivaschenko, Iryna V. |t How much leverage is too much, or does corporate risk determine the severity of a recession?. |d [Washington, D.C.] : International Monetary Fund, ©2003 |w (OCoLC)51573235 |
830 | 0 | |a IMF working paper ; |v WP/03/3. |0 http://id.loc.gov/authorities/names/no89010263 | |
856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2003/003/001.2003.issue-003-en.xml |y INTERNATIONAL MONETARY FUND |
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