Firm Leverage, Consumer Demand, and Employment Losses during the Great Recession
This article argues that firms' balance sheets were instrumental in the transmission of consumer demand shocks during the Great Recession. Using micro-level data from the U.S. Census Bureau, we find that establishments of more highly levered firms experienced significantly larger employment los...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Oxford University Press,
2017-05-15T13:03:33Z.
|
| Subjects: | |
| Online Access: | Get fulltext |