,” Working Paper 625, Federal Reserve Bank of Minneapolis.
Chevalier, J. A., and D. Scharfstein (1996): “Capital …Corporate Governance over the Business Cycle
∗
Thomas Philippon
†
New York University, CEPR and NBER
July 2003, revised … conflicts could explain up
to a third of aggregate volatility.
JEL: E3, L16.
Keywords: Corporate Governance, Business Cycles …