Financial frictions, crises, return predictability, and managerial moral hazard
<p><strong><i>Chapter 1.</strong></i> While financial crises tend to be preceded by credit booms, most credit booms do not end up in crises. Crises typically occur when there is also a persistent slowdown in productivity growth. I develop a model in which risk of crisis...
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| Format: | Thesis |
| Language: | English |
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2021
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