Debt and financial market contagion
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DOI: 10.1007/s00181-021-02077-5
Abstract: We empirically investigate why financial crises spread from one country to another. For our analysis, we develop a new multiple-channel test of financial market contagion and construct indices of crisis severity in equity markets in… read more here.
Keywords: market contagion; financial market; debt; debt financial ... See more keywords
Taxing versus subsidizing debt under financial frictions
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DOI: 10.1007/s00199-024-01615-3
Abstract: We examine optimal credit market policies in two models with durables/capital as collateral. Pecuniary externalities rationalize ex-ante debt taxes as macroprudential regulation, achieving constrained efficiency. Ex-post debt subsidies can implement first-best by stimulating collateral demand.… read more here.
Keywords: debt; debt taxes; taxing versus; debt financial ... See more keywords
The impact of debt and financial stress on health in Northern Irish households
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DOI: 10.1177/0958928717717657
Abstract: We analyse data collected from a survey of Northern Irish low-income households experiencing varying degrees of financial hardship and examine how debt affects health and health-related behaviours. Our results indicate that the subjective experience of… read more here.
Keywords: debt financial; northern irish; impact debt; financial stress ... See more keywords