Fiscal Consolidation and the Cost of Credit is popular PDF and ePub book, written by Ms.Senay Agca in 2013-02-01, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Fiscal Consolidation and the Cost of Credit can be Read Online from any device for your convenience.
Fiscal Consolidation and the Cost of Credit Book PDF Summary
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, 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.
Detail Book of Fiscal Consolidation and the Cost of Credit PDF
- Author : Ms.Senay Agca
- Release : 01 February 2013
- Publisher : International Monetary Fund
- ISBN : 9781475542233
- Genre : Business & Economics
- Total Page : 44 pages
- Language : English
- PDF File Size : 14,9 Mb
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