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sample of non-financial corporations (around 120,000 firms) in six euro area countries (Belgium, Germany, France, Italy, the … appears to be especially large in the Netherlands and Italy and relatively small in Germany …
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The article contributes to the literature on financial fragility, studying how macro-economic shocks affect supply and demand in the corporate debt market. We take into account the effect of the competitive environment, as well as the risk level, measured by companies' default rate. The model is...
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