BERNANKE GERTLER AGENCY COSTS NET WORTH 2006 PDF

Samugal Shocks that affect net worth as in a debt-deflation can initiate fluctuations. General contact details of provider: The mechanism is that higher borrower net worth reduces the agency costs of financing real capital investments. It also allows you to accept potential citations to this item that we are uncertain about. If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. Corrections All material on this site has been provided by the respective publishers and authors.

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Mark L. The mechanism is that higher borrower net worth reduces the agency costs of financing real capital investments. Business upturns improve net worth, lower agency costs, and increase investment, which amplifies the upturn; vice versa, for downturns.

Shocks that affect net worth as in a debt-deflation can initiate fluctuations. Copyright by American Economic Association. As the access to this document is restricted, you may want to look for a different version below or search for a different version of it. More about this item Access and download statistics Corrections All material on this site has been provided by the respective publishers and authors.

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