Concept

Public finance

Related publications (34)

Capital structure, credit risk, and macroeconomic conditions

This paper develops a framework for analyzing the impact of macroeconomic conditions on credit risk and dynamic capital structure choice. We begin by observing that when cash flows depend on current economic conditions, there will be a benefit for firms to ...

2006

Analyses and implications of V-I characteristic of PF insert conductor sample

Pierluigi Bruzzone, Rainer Wesche

Two short lengths of the full-size NbTi cable-in-conduit (CIC) conductor used to fabricate the ITER poloidal field coil insert were tested in the SULTAN facility. The two investigated conductors, otherwise identical, are distinguished only by the presence ...

2005

Are Budget Deficits Used Strategically?

Luisa Lambertini

This paper tests empirically the strategic explanation of budget deficits suggested by Tabellini and Alesina [13] and Persson and Svensson [12]. Tabellini and Alesina suggest that governments with different political orientation provide different public go ...

2004

Asset liquidity, capital structure, and secured debt

Erwan Morellec

This paper investigates the impact of asset liquidity on the valuation of corporate securities and the firm's financing decisions. I show that asset liquidity increases debt capacity only when bond covenants restrict the disposition of assets. By contrast, ...

2001

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