During the recent U.S. financial crisis, the large decline in aggregate output and labor was accompanied by both a tightening of financial conditions and a large increase in the dispersion of growth rates across firms. The tightened financial conditions manifested themselves as increases in...

During the recent U.S. financial crisis, the large decline in aggregate output and labor was accompanied by both a tightening of financial conditions and a large increase in the dispersion of growth rates across firms. The tightened financial conditions manifested themselves as increases in...

The ICT industry has been the driver for economic growth for several years before the financial crisis. The purpose of the paper is to look at the effects of last financial crisis on the ICT industry and how this macroeconomic shock was transmitted to households. Since the cost of capital became...