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Global value chains and multinational activity with financial frictions
financial frictions Global value chains
2015/7/21
The increasing fragmentation of production across firm and country boundaries has
transformed international trade over the last few decades. At the same time, cumulating
evidence indicates that fi...
THE HIGH SENSITIVITY OF ECONOMIC ACTIVITY TO FINANCIAL FRICTIONS
HIGH SENSITIVITY ECONOMIC ACTIVITY FINANCIAL FRICTIONS
2015/7/20
A financial friction is a wedge between the return received by providers of financial capital–ultimately, consumers–and the cost of capital paid by businesses and consumers who use capital. I study tw...