Leverage over the Firm Life-Cycle, Firm Growth, and Aggregate Fluctuations
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https://www.nber.org/papers/w25226
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We create a novel dataset by merging the Census Bureaus Longitudinal Business Dynamics data with firm-level financial information from Moodys-Orbis. We find that firm leverage varies over a firms life-cycle, acting as a binding constraint only in certain times. As a result, the impact of a financial
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美国国家经济研究局创建时间：
2018-11-01
