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Isabelle, Roland ; John, van Reenen ; John, van Reenen ; Timothy, Besley. (2020) The aggregate consequences of default risk: evidence from firm-level data.
In: CEP Discussion Papers. RePEc:cep:cepdps:dp1672.
Full description at Econpapers
cites:
% loss ?? ? % loss of output of output of output 2005 40,083 0.211 27.737 0.233 25.924 0.903 1.813 2006 33,742 0.229 26.452 0.254 24.593 0.902 1.859 2007 37,220 0.240 25.740 0.266 23.879 0.902 1.860 2008 39,365 0.241 25.685 0.266 23.857 0.904 1.828 2009 37,814 0.193 29.044 0.217 26.957 0.888 2.087 2010 38,123 0.207 27.969 0.232 25.983 0.894 1.986 2011 37,561 0.205 28.137 0.232 25.921 0.883 2.216 2012 37,644 0.209 27.834 0.236 25.677 0.886 2.157 2013 36,605 0.207 27.987 0.234 25.845 0.886 2.142 Average 37,573 0.216 27.398 0.241 25.404 0.894 1.994 Notes: This table uses the ABI/ABS sample. ?? is the estimate of aggregate credit market frictions derived in Equation (18). Output loss is the proportionate fall in output as a result of credit frictions calculated using Equation (20). ?? ? is the scale component defined in Equation (22) and ?? ?
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