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crisis. The main results are the following. First, while in normal circumstances the functioning of the Italian credit market …We estimate a structural econometric model for the credit market in Italy, using bank-level information and the … is consistent with a standard imperfect-competition model, during phases of high tension there are credit …
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In this paper we present an overview of theoretical and empirical contributions exploring the inter-linkages between financial factors and real economic activity. We first revisit the main theoretical approaches that allow financial frictions to be embedded into general equilibrium models, and...
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