Credit market frictions and the allocation of resources over the business cycle

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Payment instruments, finance and development (2018, methodology): “We also measure the stability of marginal effects by calculating the ratio between the value in the regression including controls (numerator) - column (5) - and the difference between this effect and the one derived from a regression without covariates (denominator) - column (1).”
Reallocation in the Great Recession: Cleansing or Not? (2016, background): “…still have lower exit rates and higher growth rates in the Great Recession, 6 Using Colombian establishment-level data, Eslava et al. ð2010Þ present empirical evidence that the exit margin is distorted in times of financial constraints in a manner consistent with the model of Barlevy ð2003Þ.”
Credit Allocation Under Economic Stimulus: Evidence from China (2019, unknown): “Hachem and Song (2016) and Wang et al. (2016) propose theoretical 6 Barlevy (2003) also argue that more efficient projects may experience worse credit constraints during recessions because more efficient firms borrow more, which differs from our economic channel of heterogeneous financial…”