Hegarty et al., 2023 - Google Patents

External Crises and Devaluations: A Heterogeneous-Firm Perspective

Hegarty et al., 2023

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Document ID
5645687081327962189
Author
Hegarty C
Moretti M
Ottonello P
Perez D
Publication year

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We study the transmission of external crises through the microlevel patterns of firms' adjustments. We first develop an open-economy model with heterogeneous firms that finance their investment using debt subject to default risk and face fluctuations in the risk …
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