Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin - 2015 - This version: September 25, 2015
transmission of bank distress to the real economy—in particular, to real investment and labor employment by nonfinancial firms. We … using other types of financing. The analysis is based on a unique matched data set for Germany that contains firm … supply downsize their real investment and labor employment significantly. This effect islarger for firms that are unable to …