| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5697 |
| DP5697 Financial Structure and Macroeconomic Volatility: Theory and Evidence | |
| Harry Huizinga; Dantao Zhu | |
| 发表日期 | 2006-06-24 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The volatility of US business cycle has declined during the last two decades. During the same period the financial structure of firms has become more volatile. In this paper we develop a model in which financial factors play a key role in generating economic fluctuations. Innovations in financial markets allow for greater financial flexibility and generate a lower volatility of output together with a higher volatile in the financial structure of firms. |
| 主题 | International Macroeconomics |
| 关键词 | Financing constraints Debt-equity finance Business cycle |
| URL | https://cepr.org/publications/dp5697 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534574 |
| 推荐引用方式 GB/T 7714 | Harry Huizinga,Dantao Zhu. DP5697 Financial Structure and Macroeconomic Volatility: Theory and Evidence. 2006. |
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