The Collateral Channel: How Real Estate Shocks Affect Corporate Investment
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下载链接：
https://www.nber.org/papers/w16060
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资源简介：
What is the impact of real estate prices on corporate investment? In the presence of financing frictions, firms use pledgeable assets as collateral to finance new projects. Through this collateral channel, shocks to the value of real estate can have a large impact on aggregate investment. Over the
提供机构：
美国国家经济研究局
创建时间：
2010-06-01
