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Capital reallocation and liquidity

Journal of Monetary Economics, no. 3 (2006): 369-399

引用432|浏览12
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This paper shows that the amount of capital reallocation between firms is procyclical. In contrast, the benefits to capital reallocation appear countercyclical. We measure the amount of reallocation using data on flows of capital across firms and the benefits to capital reallocation using several measures of the cross-sectional dispersion...更多

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