Sinking ships: Liquidity constraints and return predictability in recessions
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DOI: 10.1016/j.jmoneco.2025.103746
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More about this item
Keywords
Financial frictions; Asymmetric amplification; Mispricing; Return predictability; Illiquidity; State-contingent debt;All these keywords.
JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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