How Much Leverage is too Much, or Does Corporate Risk Determine the Severity of a Recession?

How Much Leverage is too Much, or Does Corporate Risk Determine the Severity of a Recession?
Economic theory suggests that vulnerable financial conditions of the corporate sector can trigger or worsen an economy-wide recession. This paper proposes a measure of corporate vulnerability, the Corporate Vulnerability Index (CVI) and analyses whether it can explain the probability and severity of recessions. The CVI is constructed as the... READ MORE...

Publication date: January 2003
ISBN 9781451841923
$15.00

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