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Financial frictions and the role of investment-specific technology shocks in the business cycle

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Academic year: 2019

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Figure

Figure 1: Role of IST shock in the Great Recession in the model without borrowing constraints
Figure 2: The risk-premium shock and NBER recession intervals in the model with borrowingconstraints
Figure 3: Role of Risk Premium shock in the Great Recession in the model with borrowingconstraints
Figure 4: Impulse response to an IST shock in the model with borrowing constraints
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