Macroeconomic Effects of Financial Shocks
收藏NBER2009-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w15338
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资源简介：
In this paper we document the cyclical properties of U.S. firms' financial flows. Equity payouts are procyclical and debt payouts are countercyclical. We develop a model with explicit roles for debt and equity financing and explore how the observed dynamics of real and financial variables are
提供机构：
美国国家经济研究局
创建时间：
2009-09-01
