Corporate Leverage Bankruptcy And Output Adjustment In Post Crisis East Asia
Download Corporate Leverage Bankruptcy And Output Adjustment In Post Crisis East Asia full books in PDF, epub, and Kindle. Read online free Corporate Leverage Bankruptcy And Output Adjustment In Post Crisis East Asia ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia
Author | : Mr.Se-Jik Kim |
Publisher | : International Monetary Fund |
Total Pages | : 30 |
Release | : 1999-10-01 |
Genre | : Business & Economics |
ISBN | : 1451856326 |
Download Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia Book in PDF, Epub and Kindle
Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating investment and selling their capital goods-at a discount-to try to stay afloat. Lower investment and wasteful capital sales shrink the aggregate capital stock, trigger deflationary pressures, and contract overall output. The available data are broadly consistent with the assumptions and predictions of the model.
Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia Related Books
Pages: 30
Pages: 29
Pages: 56
Pages: 403
Pages: 103