Browsing by Author "Valenzuela, Patricio"

Now showing 1 - 6 of 6
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    33
    (33, 33) Borrescio-Higa, Florencia; Droller, Federico; Valenzuela, Patricio; 33
    Financial Distress and Psychological Well-Being During the COVID-19 Pandemic
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    (33, 33) Valenzuela, Patricio; Mella, Javier; Claveria, Juan; 33
    Credit spreads are positively associated with economic policy uncertainty. This association is stronger in developing countries and countries with French-origin legal systems and worse sovereign credit ratings. This relation is also stronger for firms that usually face worse credit conditions.
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    (33, 33) Chari, Anusha; Garcés, Felipe; Martínez, Juan Francisco; Valenzuela, Patricio; 33
    This study explores the relationship between sovereign credit risk, banking fragility, and global financial factors in a large panel database of emerging market economies. To measure banking fragility, we construct a novel model-based semi-parametric metric (JLoss) that computes the expected joint loss of the banking sector in each country conditional on a country-level systemic event. Our metric of banking fragility is positively associated with sovereign credit spreads, after controlling for the standard determinants of sovereign credit risk, a comprehensive set of measures of systemic risk, and country and time fixed effects. The results additionally indicate that countries with more fragile banking sectors are more exposed to global (exogenous) financial factors than those with more resilient banking sectors. These findings underscore that regulators must ensure the stability of the banking sector to improve governments’ borrowing costs in international debt markets.
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    33
    (33, 33) Borrescio-Higa, Florencia; Valenzuela, Patricio; 33
    Gender Inequality and Mental Health During the COVID-19 Pandemic
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