Publicado en Estadisticas

Precios de mercado y evolución del apalancamiento empresarial en la eurozona. Edición 2022

Lunes, 28 Noviembre 2022 10:23

CoverMarket prices and the evolution of corporate leverage in the euro area - 2022 edition

Corporate leverage is an important variable for financial stability. The System of National Accounts provides a solid methodology to monitor aggregated trends. In this framework, the valuation of balance sheet items at market prices implies that both changes in volume and changes in prices define the evolution of corporate leverage over time. To demonstrate how revaluations can also explain the dynamics of corporate leverage, we build time series that only consider transactions in financial assets and liabilities. We find that the trends in corporate leverage in the euro area since 1999 would have been different if revaluations had been excluded. Users of national accounts for financial stability purposes should be aware of the impact that market prices can have on corporate leverage. Besides, ongoing methodological work to improve national accounts should continue, in particular in what regards techniques for the estimation of market values of some financial

https://ec.europa.eu/eurostat/KS-03-22-176-EN-N.pdf

Visto 195 veces
Valora este artículo
(0 votos)

Esta web utiliza cookies con una finalidad estadistica y para mejorar su navegación