Zombie Credit and (Dis-)Inflation: Evidence from Europe
收藏NBER2020-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w27158
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资源简介：
We show that cheap credit to impaired firms has a disinflationary effect. By helping distressed firms to stay afloat, zombie credit can create excess production capacity, and in turn, put downward pressure on markups and prices. We test this mechanism exploiting granular inflation and firm-level
提供机构：
美国国家经济研究局
创建时间：
2020-05-01
