We study the relation between firms financial structure, access to external finance and labor productivity using a unique dataset of firm-level data for several euro area countries during the period 1995-2011. The empirical strategy is twofold. First we build a synthetic indicator of financial...

This paper uses a new survey-based data set and a model with strong theoretical under-pinnings to explain the characteristics and behaviour of discouraged borrowers in the euro area. The results show that more borrowers are discouraged when the average interest rate charged by banks in a country...