Agency Costs, Collateral, and Business Fluctuations
收藏NBER1986-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2015
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资源简介：
Bad economic times are typically associated with a high incidence of financial distress, e.g., insolvency and bankruptcy. This paper studies the role of changes in borrower solvency in the initiation and propagation of the business cycle. We first develop a model of the process of financing real
提供机构：
美国国家经济研究局
创建时间：
1986-09-01
