countries. Will these developments improve economic performance in terms of creating jobs, fostering investment, and encouraging …

cut investment, employment, and borrowing. We conclude that financial market fluctuations affect even private firms …

firms to cut investment, employment, and borrowing. We conclude that financial market fluctuations affect even private firms …

, resulted in lower investment, employment, and bank debt for younger and smaller firms. These effects dominate those of banks … aggregate investment and employment, and to a less efficient resource allocation. …

countries. Will these developments improve economic performance in terms of creating jobs, fostering investment, and encouraging …

, resulted in lower investment, employment, and bank debt for younger and smaller firms. Importantly, these effects dominate … those of banks’ balance-sheet variables. We also show that higher CDS spreads led to lower aggregate investment, employment …

firms to cut investment, employment, and borrowing. We conclude that financial market fluctuations affect even private firms …

. Most firms revise downward their expectations for sales, orders, employment, and investment, while prices are expected to …