Because of the higher interest rates, subprime mortgages are subject to substantial prepayment risk as borrowers who succeed in improving their creditworthiness systematically prepay leaving those with...
This paper studies how firms from developed and developing countries have used domestic and international corporate bond markets since the 1990s. The authors find that debt issues in domestic and international...
Deposit insurance is widely offered in a number of countries as part of a financial system safety net to promote stability. An unintended consequence of deposit insurance is the reduction in the incentive...