Financial Frictions and Firm Dynamics
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Firm entry dynamics are an integral part of the propagation of financial shocks to the real economy. A VAR documents that adverse financial shocks in the U.S. postwar period are associated with a fall in new firm creation and a fall in firm equity values. We propose a DSGE model with endogenous firm
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美国国家经济研究局创建时间：
2014-05-01
