| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14758 |
| DP14758 Identifying the Real Effects of Zombie Lending | |
| Fabiano Schivardi; Enrico Sette; Guido Tabellini | |
| 发表日期 | 2020-05-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Several papers study the real effects of zombie lending based on regressions showing that the performance of healthy firms relative to zombie firms deteriorates as the fraction of zombie firms increases. This finding is interpreted as evidence of a negative spillover from zombies to healthy firms. We argue that this commonly used approach faces a serious identification problem. Under general conditions on the distribution of firm performance, the deterioration of the relative performance of healthy firms is a mechanical consequence of an increase in the fraction of zombies and cannot be interpreted as evidence of negative spillovers. |
| 主题 | Financial Economics |
| 关键词 | Zombie lending Capital misallocation |
| URL | https://cepr.org/publications/dp14758 |
| 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/543684 |
| 推荐引用方式 GB/T 7714 | Fabiano Schivardi,Enrico Sette,Guido Tabellini. DP14758 Identifying the Real Effects of Zombie Lending. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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