Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - Institute for the Study of Labor (IZA) - 2013
-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We … exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010 …