Research suggests that when the rich bank, the rest borrow.
So far, US firms have absorbed much of the cost. More pain for consumers may be coming.
Chicago Booth’s Brent Neiman and his coauthors have used micro data to construct a new picture of country-level investment portfolios.
The prevalence of offshore financing could make it hard to size up the risks of a corporate debt crisis or to design policies in response to one.
Chicago Booth’s Brent Neiman discusses the remote-working landscape in the US amidst COVID-19 shutdowns.