Tymoigne, Éric (contributor) - 2006
the crisis occurs, E(cc) goes down sharply as the “new era” convention is proved wrong,
and then stays low: nobody is … appropriate use of leveraging. Over a
period of prolonged expansion, this ratio always goes up, reflecting a loosening in the … activity, and then other
economic sectors, will go down (E(cc) goes up). People will be more daring. On the contrary,
when …