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The responses of small and large firms to tight credit shocks : the case of 2008 through the lens of Gertler and Gilchrist (1994)


Abstract: Do large firms and small firms behave differently when credit becomes more costly or harder to obtain? Past research has found that small firms are more likely to be credit-constrained and thus tend to be affected more negatively than large firms during such times. Recent findings from the 2007-2009 recession, however, raise questions about the roles of small and large firms during periods of tight credit

Keywords: Business cycles; Recessions;

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Richmond Fed Economic Brief

Publication Date: 2010

Issue: Oct

Order Number: 10-10