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Recovery rates, default probabilities, and the credit cycle

✍ Scribed by Max Bruche; Carlos González-Aguado

Book ID
116615379
Publisher
Elsevier Science
Year
2010
Tongue
English
Weight
288 KB
Volume
34
Category
Article
ISSN
0378-4266

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## Abstract Various economic theories are available to explain the existence of credit and default cycles. There remains empirical ambiguity, however, as to whether these cycles coincide. Recent papers suggest by their empirical research set‐up that they do, or at least that defaults and credit spr