Hepp, Ralf; Hagen, Jürgen von - 2010
of Asdrubali et al. (1996). Their framework allows us to estimate the degree of smoothing of a shock to a state’s gross … domestic product by factor markets, the government sector, and credit markets, respectively. For the time period from 1970 to … through credit markets. For the post-reunification period, 1995 to 2006, the relative importance of the smoothing channels …
