Sorting Out the Real Effects of Credit Supply
收藏NBER2021-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w28842
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We document that banks which cut lending more during the Great Recession were lending to riskier firms. To explain this evidence, we build a competitive matching model of bank-firm relationships in which risky firms borrow from banks with low holding costs. Based on default probabilities and
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美国国家经济研究局创建时间：
2021-05-01
