Macroeconomic Effects of Financial Shocks
收藏数据链接：
官方服务：
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
