Add to ORKGThis paper examines a tractable real business cycle model with idiosyncratic productivity shocks and binding credit constraints on entrepreneurs. The model shows how firm volatility increases in combination with credit market development. It further generates the observed comovement of credit and firm volatility with output at business cycle frequencies in response to aggregate productivity shocks
We argue that credit constraints not only amplify fundamental shocks, they can also lead to self-ful...
In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secur...
Empirical evidence shows that while aggregate output volatility has declined in recent decades espec...
This paper examines a tractable real business cycle model with idiosyncratic productivity shocks and...
This paper examines a tractable real business cycle model with idiosyncratic productivity shocks and...
We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment ...
This paper studies the macroeconomic implications of \u85rms investment com-position choices in the...
In this paper we document the cyclical properties of U.S. firms’ financial flows. Equity payouts are...
In this paper we document the cyclical properties of U.S. firms ’ fi-nancial flows. Debt payouts are...
This paper investigates the role of credit market size as a determinant of business cycle fluctuatio...
This paper examines how uncertainty and credit constraints affect the cyclical composition of invest...
This paper studies the macroeconomic implications of \u85rmsprecautionary invest-ment behavior in re...
International audienceWe develop a business cycle model where endogenous firm creation stems from tw...
The total output of an economy usually follows cyclical movements which are accompanied by similar m...
Empirical evidence shows that while aggregate output volatility has declined in recent decades espec...
We argue that credit constraints not only amplify fundamental shocks, they can also lead to self-ful...
In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secur...
Empirical evidence shows that while aggregate output volatility has declined in recent decades espec...
This paper examines a tractable real business cycle model with idiosyncratic productivity shocks and...
This paper examines a tractable real business cycle model with idiosyncratic productivity shocks and...
We examine how credit constraints affect the cyclical behavior of productivity-enhancing investment ...
This paper studies the macroeconomic implications of \u85rms investment com-position choices in the...
In this paper we document the cyclical properties of U.S. firms’ financial flows. Equity payouts are...
In this paper we document the cyclical properties of U.S. firms ’ fi-nancial flows. Debt payouts are...
This paper investigates the role of credit market size as a determinant of business cycle fluctuatio...
This paper examines how uncertainty and credit constraints affect the cyclical composition of invest...
This paper studies the macroeconomic implications of \u85rmsprecautionary invest-ment behavior in re...
International audienceWe develop a business cycle model where endogenous firm creation stems from tw...
The total output of an economy usually follows cyclical movements which are accompanied by similar m...
Empirical evidence shows that while aggregate output volatility has declined in recent decades espec...
We argue that credit constraints not only amplify fundamental shocks, they can also lead to self-ful...
In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secur...
Empirical evidence shows that while aggregate output volatility has declined in recent decades espec...