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This paper proposes a theoretical framework to analyze the relationship between credit shocks, firm defaults and volatility, and to study the impact of credit shocks on business cycle dynamics. Firms are identical ex ante but differ ex post due to different realizations of firm-specific...
Persistent link: https://www.econbiz.de/10010849962
Including contributions spanning a variety of theoretical and applied topics in econometrics, this volume of Advances … in Econometrics is published in honour of Cheng Hsiao. In the first few chapters of this book, new theoretical panel and … economics. For any researcher of econometrics, this is an unmissable volume of the most current and engaging research in the …
Persistent link: https://www.econbiz.de/10012215525