Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - First draft: November 23, 2020 ; this version: May 17, 2021
determining the relative weight of these states over time. We show that shocks to the credit spread and shocks to credit standards … explaining growth fluctuations. The credit spread and - to some extent - credit standards are also the key determinants of the …