Searching for the financial accelerator: how credit affects the business cycle

Adrian Peralta-Alva ()

Economic Synopses, 2011, No 30

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.

Keywords: Business cycles; Credit (search for similar items in EconPapers)
Date: 2011
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