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management activity. To examine this issue, we consider the setting of the European sovereign debt crisis as a shock to the … crisis. This setting represents an exogenous shock to German non-financial firms because these firms were not directly … affected by the crisis. We use a difference-in-differences research design, and firms with lending relationships with non …
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This paper offers a meticulous description and analysis of the development of the Target balances, with a rich set of new data and detailed information that specialists will treasure and the general public will find illuminating. The last part of the paper, in which the author discusses measures...
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