Rondi, Laura; Sack, Brian; Schiantarelli, Fabio; … - In: Giornale degli Economisti 57 (1998) 1, pp. 35-64
Following the idea that adverse macroeconomic shocks to the economy worsen agency problems between borrowers and lenders, this paper presents empirical evidence that small and large firms react differently to monetary tightening. We use aggregate annual balance sheet data for two subsamples of...