Aggregate Implications of Corporate Debt Choices
This article studies the transmission of financial shocks in a model where corporate credit is intermediated via both banks and bond markets. In choosing between bank and bond financing, firms trade-off the greater flexibility of banks in case of financial distress against the lower marginal costs o...
| Veröffentlicht in: | The Review of Economic Studies. - Review of Economic Studies Ltd.. - 85(2018), 3 (304), Seite 1635-1682 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2018
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| Zugriff auf das übergeordnete Werk: | The Review of Economic Studies |
| Schlagworte: | Banks Bonds Financial structure Financial frictions Firm dynamics Output Investment Productivity risk |
| Online verfügbar |
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