D. Igan - Academia.edu (original) (raw)
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Papers by D. Igan
Staff Discussion Notes, 2012
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Staff Discussion Notes, 2011
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Journal of Law and Economics, 2014
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Journal of Economic Behavior & Organization, 2015
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IMF Working Papers, 2009
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IMF Working Papers, 2013
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The Evidence and Impact of Financial Globalization, 2013
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, Sch... more ... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, School of Management, Email: marcelo@alumni.princeton.edu. ... 32, pp. 1353)1363. [21] Larsen, Tim, Price, Joe and Wolfers, Justin, 2008, VRacial Bias in the NBA: Implications in ...
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at... more ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data for 16 advanced economies over the period 1990-2011, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic firms, and for firms with limited alternative financing sources. These adverse effects are mitigated substantially if consolidations are large, and can be avoided if consolidations are also accompanied with more adaptable macroeconomic policies and implemented by a stable government. These findings suggest that lenders price the short-term recessionary effects in loans but large consolidations can reduce or undo the increase in spreads, especially under favorable country conditions, by signaling credibility and creating expansionary expectations.
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SSRN Electronic Journal, 2000
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NBER Macroeconomics Annual, 2012
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Staff Discussion Notes, 2012
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Staff Discussion Notes, 2011
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Journal of Law and Economics, 2014
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Journal of Economic Behavior & Organization, 2015
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IMF Working Papers, 2009
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IMF Working Papers, 2013
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The Evidence and Impact of Financial Globalization, 2013
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SSRN Electronic Journal, 2000
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SSRN Electronic Journal, 2000
... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, Sch... more ... Phone: 202) 623)4743. Fax: 202)623)4740. E)mail: digan@imf.org. *George Mason University, School of Management, Email: marcelo@alumni.princeton.edu. ... 32, pp. 1353)1363. [21] Larsen, Tim, Price, Joe and Wolfers, Justin, 2008, VRacial Bias in the NBA: Implications in ...
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SSRN Electronic Journal, 2000
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at... more ABSTRACT We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt. Using a new dataset on fiscal consolidations and syndicated corporate loan data for 16 advanced economies over the period 1990-2011, we find that loan spreads increase with fiscal consolidations, especially for small firms, domestic firms, and for firms with limited alternative financing sources. These adverse effects are mitigated substantially if consolidations are large, and can be avoided if consolidations are also accompanied with more adaptable macroeconomic policies and implemented by a stable government. These findings suggest that lenders price the short-term recessionary effects in loans but large consolidations can reduce or undo the increase in spreads, especially under favorable country conditions, by signaling credibility and creating expansionary expectations.
Bookmarks Related papers MentionsView impact
SSRN Electronic Journal, 2000
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NBER Macroeconomics Annual, 2012
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