Credit, Bankruptcy, and Aggregate Fluctuations
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We ask two questions related to how access to credit affects the nature of business cycles. First, does the standard theory of unsecured credit account for the high volatility and procyclicality of credit and the high volatility and countercyclicality of bankruptcy filings found in U.S. data? Yes,
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美国国家经济研究局创建时间：
2014-10-01
