TY  - BOOK
AU  - Klein,Nir
TI  - Corporate Sector Vulnerabilities in Ireland
T2  - IMF Working Papers
SN  - 1475552173 :
SN  - 1018-5941
PY  - 2016///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Corporate Debt
KW  - imf
KW  - Corporate Sector
KW  - External Shocks
KW  - Interest Rates
KW  - Ireland
N2  - The paper uses both macro- and micro-level data to assess how has the financial health of the Irish non-financial corporate (NFC) sector changed in the post financial crisis period. The analysis suggests that vulnerabilities have generally declined in recent years, but the NFC sector and especially smaller domestic firms remain vulnerable. A sensitivity analysis indicates that a non-extreme shock, which comprises a decline in profitability and an increase in interest rates, is likely to push many firms into a vulnerable state and that the share of firms with interest cover ratio of lower than one would triple to nearly fifty percent, largely reflecting the deterioration in the financial health of small firms. In such a scenario, the share of risky debt would increase to the level observed during the financial crisis, resulting in a significant increase in new corporate defaults
UR  - http://elibrary.imf.org/view/IMF001/23811-9781475552171/23811-9781475552171/23811-9781475552171.xml
UR  - http://www.imfbookstore.org/IMFORG/9781475552171
ER  -