The Equilibrium Impact of Credit Frictions: Evidence from Default Risk Using Firm-Level Data
收藏数据链接：
官方服务：
资源简介：
This paper examines the impact of credit frictions arising from firm-level default risk on aggregate economic performance. We build a micro-to-macro model with heterogeneous firms and sector-specific production functions, showing that perceived default risk is a sufficient statistic for credit
提供机构：
美国国家经济研究局创建时间：
2026-08-01
