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Persistent link: https://www.econbiz.de/10010225043
This paper shows that collateral constraints restrict firm entry and post-entry growth, even in the long-run. We use French administrative data and exploit cross-sectional variation in local house-price appreciation as shocks to the value of collateral available to homeowners. We control for...
Persistent link: https://www.econbiz.de/10010502054
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