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47 p, 609.7 KB Default cycles / Cui, Wei, 1970- ; Kaas, Leo
Recessions are often accompanied by spikes of corporate default and prolonged declines of business credit. This paper argues that credit and default cycles are the outcomes of variations in self-fulfilling beliefs about credit market conditions. [...]
The ADEMU Working Paper Series is being supported by the European Commission Horizon 2020 European Union funding for Research & Innovation, grant agreement No 649396.

2017 (ADEMU Working Paper Series ; 62)  

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