Labor and Capital Dynamics under Financing Frictions
We assemble a new, quarterly panel dataset that links firms' investment and financing to their employment and wages. In the data, wages and leverage are negatively related, both cross-sectionally and within firms. This pattern contradicts models in which firms insure workers against unemploymen...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Oxford University Press
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |