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Two separate narratives have emerged in the wake of the Global Financial Crisis. One speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and worries about the...
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corporate) and the depth of recessions. To do this, we differentiate between financial recessions and normal recessions on the … basis of how quickly their private debt builds up. In addition to output recessions, we look at consumption and investment … recessions. We find that financial recessions are deeper than normal recessions in advanced economies−and the differences become …
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This study analyzes which types of firm-level shocks were associated with the centralization of strategic decision-making during the recession of 2008-09. We use a unique survey dataset of more than 14000 manufacturing firms from seven European countries which includes direct information on...
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relationship between NPL problems-elevated and unresolved NPLs-and the severity of post-crisis recessions. A machine learning …
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relationship between NPL problems-elevated and unresolved NPLs-and the severity of post-crisis recessions. A machine learning …
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