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The slow recovery following the 2008/2009 recession has led to renewed interest in the question whether deep recessions lower real GDP permanently or whether we can expect a rebound to earlier trend levels. Using a recent quantile autoregression unit root test we check whether shocks to real GDP...
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We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …
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We demonstrate how endogenous information acquisition in venture capital markets creates investment cycles when … uncoordinated screening behavior of competing financiers is an independent source of fluctuations inducing venture investment cycles …
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