When Credit Bites Back: Leverage, Business Cycles, and Crises
收藏NBER2011-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w17621
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资源简介：
This paper studies the role of credit in the business cycle, with a focus on private credit overhang. Based on a study of the universe of over 200 recession episodes in 14 advanced countries between 1870 and 2008, we document two key facts of the modern business cycle: financial-crisis recessions
提供机构：
美国国家经济研究局
创建时间：
2011-11-01
