Zombies at Large? Corporate Debt Overhang and the Macroeconomy
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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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美国国家经济研究局创建时间:
2020-12-01



