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, in addition to credit demand contraction induced by low firm net worth, low bank capital position can create strong … credit supply contraction, and have a quantitatively significant effect on business cycle dynamics. The second essay studies … finds that higher savings by more frugal households provide an important cushion for the fall in private investment funding. …
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like credit, savings, and managerial constraints. Using panel data, this study identifies subgroups that would benefit by …
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