Private Credit And Public Debt
DOWNLOAD eBooks
Download Private Credit And Public Debt PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Private Credit And Public Debt book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Private Credit And Public Debt
DOWNLOAD eBooks
Author : Anatol Murad
language : en
Publisher:
Release Date : 1954
Private Credit And Public Debt written by Anatol Murad and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1954 with Credit categories.
Private Lending To Sovereign States
DOWNLOAD eBooks
Author : Daniel Cohen
language : en
Publisher: MIT Press
Release Date : 1991
Private Lending To Sovereign States written by Daniel Cohen and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Business & Economics categories.
In this illuminating work on external debt, Daniel Cohen explodes many myths currently popular among economists, bankers, and journalists about the nature of the debt problem, its origins, and its cure.
Bailing Out The People When Private Debt Becomes Public
DOWNLOAD eBooks
Author : Samba Mbaye
language : en
Publisher: International Monetary Fund
Release Date : 2018-06-13
Bailing Out The People When Private Debt Becomes Public written by Samba Mbaye and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This paper documents a form of private sector bailout that is much more common (and yet unnoticed) than the typical bank bailout. Building on the newly-created Global Debt Database, we show that excess private debt systematically turns into higher public debt, regardless of whether the credit boom resulted in a crisis or a more orderly deleveraging process. This debt migration operates mainly through growth rather than explicit bailouts: private deleveraging weighs on activity, prompting a countercyclical government response to support economic activity. Ultimately, whether this debt substitution results in a net increase or a net decline of overall indebtedness in the economy depends on the extent of the growth slowdown during the deleveraging spell. These findings suggest that markets and policymakers should move away from looking at private and sovereign debt in silos and pay closer attention to the total stock of debt in the economy, as the line between the two tends to become blurry.
Fiscal Buffers Private Debt And Stagnation
DOWNLOAD eBooks
Author : Nicoletta Batini
language : en
Publisher: International Monetary Fund
Release Date : 2016-05-23
Fiscal Buffers Private Debt And Stagnation written by Nicoletta Batini and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-05-23 with Business & Economics categories.
We revisit the empirical relationship between private/public debt and output, and build a model that reproduces it. In the model, the government provides financial assistance to credit-constrained agents to mitigate deleveraging. As we observe in the data, surges in private debt are potentially more damaging for the economy than surges in public debt. The model suggests two policy implications. First, capping leverage leads to milder recessions, but also implies more muted expansions. Second, with fiscal buffers, financial assistance to credit-constrained agents helps avoid stagnation. The growth returns from intervention decline as the government approaches the fiscal limit.
Between Debt And The Devil
DOWNLOAD eBooks
Author : Adair Turner
language : en
Publisher: Princeton University Press
Release Date : 2017-08-02
Between Debt And The Devil written by Adair Turner and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-08-02 with Business & Economics categories.
Why our addiction to debt caused the global financial crisis and is the root of our financial woes Adair Turner became chairman of Britain's Financial Services Authority just as the global financial crisis struck in 2008, and he played a leading role in redesigning global financial regulation. In this eye-opening book, he sets the record straight about what really caused the crisis. It didn’t happen because banks are too big to fail—our addiction to private debt is to blame. Between Debt and the Devil challenges the belief that we need credit growth to fuel economic growth, and that rising debt is okay as long as inflation remains low. In fact, most credit is not needed for economic growth—but it drives real estate booms and busts and leads to financial crisis and depression. Turner explains why public policy needs to manage the growth and allocation of credit creation, and why debt needs to be taxed as a form of economic pollution. Banks need far more capital, real estate lending must be restricted, and we need to tackle inequality and mitigate the relentless rise of real estate prices. Turner also debunks the big myth about fiat money—the erroneous notion that printing money will lead to harmful inflation. To escape the mess created by past policy errors, we sometimes need to monetize government debt and finance fiscal deficits with central-bank money. Between Debt and the Devil shows why we need to reject the assumptions that private credit is essential to growth and fiat money is inevitably dangerous. Each has its advantages, and each creates risks that public policy must consciously balance.
General Credit Control Debt Management And Economic Mobilization
DOWNLOAD eBooks
Author : United States. Congress. Joint Economic Committee
language : en
Publisher:
Release Date : 1951
General Credit Control Debt Management And Economic Mobilization written by United States. Congress. Joint Economic Committee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1951 with Credit categories.
Debt Public And Private
DOWNLOAD eBooks
Author : Chamber of Commerce of the United States of America. Economic Research Department
language : en
Publisher:
Release Date : 1966
Debt Public And Private written by Chamber of Commerce of the United States of America. Economic Research Department and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1966 with Debt categories.
Managerial Entrenchment And The Choice Of Debt Financing
DOWNLOAD eBooks
Author : Mr.Amadou N. R. Sy
language : en
Publisher: International Monetary Fund
Release Date : 1999-07-01
Managerial Entrenchment And The Choice Of Debt Financing written by Mr.Amadou N. R. Sy and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-07-01 with Business & Economics categories.
The paper analyzes the choice between public and private debt by an entrenched manager. The model shows that when the firm’s credit risk is low, management issues public bonds because of the value gains from increased flexibility rather than reduced restrictions and monitoring. In fact, management’s expected private gains decrease as initial private debt restrictions are selectively relaxed. In contrast, when credit risk is high, management issues private debt because of the value gains and private benefits from renegotiating more stringent restrictions. When the maturity of private debt is shortened, however, privately and publicly placed bonds can be preferred to bank debt.
Revisiting The Stabilization Role Of Public Banks Public Debt Matters
DOWNLOAD eBooks
Author : H. Elif Ture
language : en
Publisher: International Monetary Fund
Release Date : 2021-01-15
Revisiting The Stabilization Role Of Public Banks Public Debt Matters written by H. Elif Ture and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-15 with Business & Economics categories.
This paper revisits the stabilization role of public banks and analyzes whether weak public finances may hinder this role. During the global financial crisis (GFC), public banks were widely used to counter the private credit crunch and prop up the economy. Using cross-country bank-level data for 125 advanced and developing economies for 1999–2018, the paper finds public bank lending to be less procyclical than private bank lending on average, particularly during busts. A key result, however, is that in developing economies with high public debt levels, public bank lending has been more procyclical, particularly outside of the GFC period. This finding suggests high public debt can limit the stabilization role of public banks during domestic busts, likely reflecting higher financing costs public banks face and lower subsidies they receive in economies with tighter budget constraints.
Private Debt
DOWNLOAD eBooks
Author : Stephen L. Nesbitt
language : en
Publisher: John Wiley & Sons
Release Date : 2019-01-14
Private Debt written by Stephen L. Nesbitt and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-01-14 with Business & Economics categories.
The essential resource for navigating the growing direct loan market Private Debt: Opportunities in Corporate Direct Lending provides investors with a single, comprehensive resource for understanding this asset class amidst an environment of tremendous growth. Traditionally a niche asset class pre-crisis, corporate direct lending has become an increasingly important allocation for institutional investors—assets managed by Business Development Company structures, which represent 25% of the asset class, have experienced over 600% growth since 2008 to become a $91 billion market. Middle market direct lending has traditionally been relegated to commercial banks, but onerous Dodd-Frank regulation has opened the opportunity for private asset managers to replace banks as corporate lenders; as direct loans have thus far escaped the low rates that decimate yield, this asset class has become an increasingly attractive option for institutional and retail investors. This book dissects direct loans as a class, providing the critical background information needed in order to work effectively with these assets. Understand direct lending as an asset class, and the different types of loans available Examine the opportunities, potential risks, and historical yield Delve into various loan investment vehicles, including the Business Development Company structure Learn how to structure a direct loan portfolio, and where it fits within your total portfolio The rapid rise of direct lending left a knowledge gap surrounding these nontraditional assets, leaving many investors ill-equipped to take full advantage of ever-increasing growth. This book provides a uniquely comprehensive guide to corporate direct lending, acting as both crash course and desk reference to facilitate smart investment decision making.