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| 02038cam 2200349zi 4500 |
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| 001 | 9.867985 |
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| 003 | CaOODSP |
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| 005 | 20221107162448 |
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| 006 | m o d f |
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| 007 | cr cn||||||||| |
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| 008 | 190205t20192019onca ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | |aeng|bfre |
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| 086 | 1 |aFB3-5/2019-5E-PDF |
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| 100 | 1 |aZivanovic, Jelena, |eauthor. |
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| 245 | 10|aCorporate debt composition and business cycles / |cby Jelena Zivanovic. |
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| 264 | 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2019. |
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| 264 | 4|c©2019 |
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| 300 | |a1 online resource (ii, 34 pages) : |bcolour illustrations. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2019-5 |
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| 500 | |a"January 2019." |
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| 504 | |aIncludes bibliographical references (pages 27-29). |
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| 520 | 3 |a"Based on empirical evidence, I propose a dynamic stochastic general equilibrium model with two financial sectors to analyze the role of corporate debt composition (bank versus bond financing) in the transmission of economic shocks. It is shown that in the presence of monetary and financial shocks, cyclical changes in corporate debt composition significantly attenuate the effects on investment and output. An additional result of the theoretical model is that a bank-dependent economy is more affected by financial shocks, which is in line with empirical results by Gambetti and Musso (2016), who report stronger real effects of loan supply shocks in Europe (with an excessive reliance on bank debt) than in the US"--Abstract, page ii. |
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| 546 | |aIncludes abstract in French. |
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| 692 | 07|2gccst|aCorporations |
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| 692 | 07|2gccst|aDebt |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ;|v2019-5.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.65 MB|uhttps://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-5-eng.pdf |
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