CITATION — REFERENCE ENTRY
higher-haircuts-higher-spreads · cruces-trebesch-2011-price-of-haircuts
- Claim ID
- higher-haircuts-higher-spreads
- Assertion
- Restructurings with larger haircuts are associated with significantly higher subsequent bond yield spreads and longer periods of exclusion from capital markets, casting doubt on the belief that credit markets forgive and forget.
- Quote
restructurings involving higher haircuts are associated with significantly higher subsequent bond yield spreads and longer periods of capital market exclusion. The results cast doubt on the widespread belief that credit markets “forgive and forget.”
- Quote language
- en
- Locator
- section: Abstract
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