Browsing HBS Scholarly Articles by Keyword "financial crisis"
Now showing items 1-4 of 4
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Accounting for Crises
(American Economic Association, 2014)We provide among the first empirical evidence consistent with recent macro global-game crisis models, which show that the precision of public signals can coordinate crises (e.g., Angeletos and Werning, 2006; Morris and ... -
Survive Another Day: Using Changes in the Composition of Investments to Measure the Cost of Credit Constraints
(MIT Press - Journals, 2016)We introduce a novel empirical strategy to measure the size of credit shocks. Theoretically, we show that credit shocks reduce the value of long-term relative to short-term investments. Empirically, we can therefore compare ... -
Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance
(American Economic Association, 2012)We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how ... -
Vulnerable Banks
(Elsevier, 2014-11-25)We present a model in which fire sales propagate shocks across bank balance sheets. When a bank experiences a negative shock to its equity, a natural way to return to target leverage is to sell assets. If potential buyers ...