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Alarmierender Rekord bei InsolvenzenSteffen MüllerZDF, 9. Oktober 2024
We identify the effects of exogenous credit constraints on firm ability to attract and retain skilled workers. To do so, we exploit a shock to the value of the pension obligations of Portuguese banks resulting from a change in accounting norms.
Existing empirical studies on the effect of monetary policy on bank lending almost exclusively focus on a closed economy setting and ignore the interactions between domestic monetary policy and international financial markets.
