Başçı, Erdem; Başkaya, Yusuf Soner; Kilinc̦, Mustafa - 2011
By using the U.S. NBER-CES industry-level data for the 1962-2005 period, we analyze how exogenous changes in firms' borrowing costs, measured by the spread between Baa and Aaa rated corporate bonds, affect employment dynamics and whether external finance dependence differences across industries...