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Risk contagion through defaults on trade bills

M. Bardos and D. Stili

Quarterly selection of articles - Bulletin de la Banque de France, 2006, issue 06, 49-71

Abstract: Intercompany credit is a transmission channel for business failure risk. Trade bill payment incidents reveal the interdependent links between sectors and their contagion risk potential when large amounts are involved.

Keywords: contagion; risk diffusion; matching estimator; default rate; probability of default; defaults; payment incidents; trade bills; intercompany credit; trade credit balance. (search for similar items in EconPapers)
JEL-codes: C44 C51 C53 C61 G33 (search for similar items in EconPapers)
Date: 2006
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