Bittner, Christian; Fecht, Falko; Georg, Co-Pierre - 2021
Does banks' zombie lending induced by unconventional monetary policy also allow zombie firms to leverage their trade … Central Bank's very long-term refinancing operations (VLTROs) to evergreen exposures to zombie firms, which in turn elevated … third, zombie firms that obtained further bank funding and such trade credit after the VLTROs had an elevated expected …