Journal Article
Searching for the financial accelerator: how credit affects the business cycle
Abstract: Firms started repaying their debts during 2008-2009, and they did so while simultaneously accumulating highly liquid assets. These two observations are puzzling if one believes firms are purportedly starving for credit but cannot obtain it.
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https://fraser.stlouisfed.org/title/economic-synopses-6715/searching-financial-accelerator-624330
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Economic Synopses
Publication Date: 2011
Order Number: 30