Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/1276
Authors: 
Lehment, Harmen
Blevins, Christopher
Sjøvoll, Espen
Year of Publication: 
1997
Series/Report no.: 
Kiel Working Paper 842
Abstract: 
In this paper we empirically analyze the macroeconomic detenninants of insolvencies in Germany since 1970. It is shown that the growth rate of insolvencies can be explained by changes in the rate of return to capital and by preceding changes in the money market interest rate and the inflation rate, as well as by lagged effects of preceding changes in bankruptcies. We also find that Gennan unification contributed to a rise of bankruptcy rates both in West Gennany and in East Germany.
JEL: 
G33
Document Type: 
Working Paper

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