With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a … prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering … risks either. Yet in line with theory, we find that the economic costs of corporate debt booms rise when inefficient debt …

With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a … prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering … either. Yet in line with theory, we find that the economic costs of corporate debt booms rise when inefficient debt …

With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a … prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering … either. Yet in line with theory, we find that the economic costs of corporate debt booms rise when inefficient debt …

With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a … prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering … risks either. Yet in line with theory, we find that the economic costs of corporate debt booms rise when inefficient debt …

With business leverage at record levels, the effects of corporate debt overhang on growth and investment have become a … prominent concern. In this paper, we study the effects of corporate debt overhang based on long-run cross-country data covering … risks either. Yet in line with theory, we find that the economic costs of corporate debt booms rise when inefficient debt …

idea that financial factors play an important role in the modern business cycle. -- leverage ; booms ; recessions …