How systematic is default risk?

Dalgıç, Nihan

This study aims to provide an extensive analysis of systematic (market-wide) and systemic (sector-wide and industry-wide) components of the idiosyncratic default risk. We detect significant heterogeneity among the default risk structure of various industry groups. More specifically, the default probability of institutions affiliated with certain industry groups is more strongly linked to industry-wide risks while others are more heavily tied to sectorwide risks. We further show that systematic and systemic components of default risk alter also relative to up/down market cycles for each indust ...Daha fazlası

Preprint 2023 Yeditepe University Academic and Open Access Information System 82 Görüntülenme

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An investigation of the relationship between health care expenditures and economic growth

Binay, Murat

In the 1960s, endogenous growth theories revealed that human capital accumulation is at least as important as physical capital accumulation on economic growth. Then, it was focused on how to increase the accumulation of human capital, and it was determined that the two main components were primarily education and then health. There are many studies in the literature on the relationship between economic growth and health expenditures. In the studies on the relationship between health expenditures and economic growth, although it has been observed that health expenditures generally increase econ ...Daha fazlası

Preprint 2023 Yeditepe University Academic and Open Access Information System 52 Görüntülenme