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strengthening efforts and insolvency regime reform would contribute to breaking the shackles on potential growth in Europe. … bank health and the consequences for aggregate productivity in 11 European countries. Controlling for cyclical effects, the … Europe may at least partly stem from bank forbearance. The increasing survival of zombie firms congests markets and …
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Policies that spur more efficient corporate restructuring can revive productivity growth by targeting three inter …-related sources of labour productivity weakness: the survival of “zombie” firms (low productivity firms that would typically exit in a … much scope to improve the design of insolvency regimes in order to reduce the barriers to restructuring of weak firms and …
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We examine the relationship between lax monetary policy, access to high-yield bond markets and productivity in the US … higher risk profile. Since the relationship between credit ratings and firm-level productivity is U-shaped, the aggregate … effect on productivity is a priori unclear. Turning to the real economy, we thus analyse whether this additional access to …
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