across certain countries in Europe. We find that, overall, the correlation is far greater in Southern Europe than in Northern … Europe. Using a simple model, we show that this heterogeneity may relate to financial frictions in a country. We confirm the … model's propositions in a number of empirical analyses for the following countries in Northern and Southern Europe: the …

between bank credit and firm-level productivity in the context of different financial markets set-ups, we introduce a model of … group of European countries to explore the relation between bank credit and productivity following the main predictions of … the model. We estimate an extended set of elasticities of bank credit with respect to a series of productivity measures of …

between productivity and bank credit in the context of different financial market set-ups, we introduce a model of overlapping … and Italy to explore the relation between bank credit and productivity following the main derivations of the model. We … estimate an extended set of elasticities of bank credit with respect to a series of productivity measures of firms. We focus …

, age, or productivity. We identify conditions under which standard models of firms subject to financial frictions can be …

We show that an increase in aggregate uncertainty-measured by stock market volatility-reduces productivity growth more … using productivity growth for 25 industries for 18 advanced economies over the period 1985-2010-mitigates concerns with …