This paper reviews the state-of-the-art of macro stress-testing methodologies. Substantial
progress has been made both in the econometric analysis of financial soundness indicators …

Corporate default predictions play an essential role in each sector of the economy, as
highlighted by the global financial crisis and the increase in credit risk. This study reviews …

The COVID-19 pandemic led to a great deal of financial uncertainty in the stock market. An
initial drop in March 2020 was followed by unexpected rapid growth over 2021. Therefore …

A comprehensive look at the enormous growth and evolution of distressed debt markets,
corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative …

This paper examines the relationship between green innovation and default risk using a
sample of 26,904 firm-year observations across 35 European countries from 2003 to 2019 …

This paper examines the impact of stock liquidity on firm bankruptcy risk. Using the
Securities and Exchange Commission decimalization regulation as a shock to stock liquidity …

Using micro-level data, we construct a credit spread index with considerable predictive
power for future economic activity. We decompose the credit spread into a component that …

Abstract Analysis of the tradeoff between competition and financial stability has been at the
center of academic and policy debate for over two decades and especially since the 2007 …

This paper proposes an analytical framework to quantify the impacts of climate policy and
transition narratives on economic and financial variables necessary for financial risk …

This paper explores the determinants of corporate failure and the pricing of financially
distressed stocks whose failure probability, estimated from a dynamic logit model using …