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Zombies at Large? Corporate Debt Overhang and the Macroeconomy

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NBER2020-12-01 更新2025-01-04 收录
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With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering the near- universe of modern business cycles. We show

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2020-12-01
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