Burkart and Ellingsen's (2004) model of trade credit and bank credit rationing predicts that trade credit will be used by medium-wealth and low-wealth firms to help ease bank credit rationing.
: Credit and credit aggregates; Financial marketsZero-coupon interest rates are the fundamental building block of fixed-income mathematics, and as such have an extensive number of applications in both finance and economics.
: Econometric and statistical methods; Financial markets; Interest ratesExisting studies using low-frequency data show that macroeconomic shocks contribute little to international stock market covariation.
: Financial markets; International topics; Market structure and pricingThe author describes results obtained by using a new methodology to estimate potential output for the United Kingdom.
: Business fluctuations and cycles; Econometric and statistical methods; Potential outputThe authors use Jarrow and Turnbull's (1995) reduced-form methodology to model the evolution of the term structure of interest rates in the United States for different credit classes and different industries.
: Financial markets; Market structure and pricing
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