We study the effects of financial frictions on firm exit when firms face large liquidity shocks. We develop a simple model of firm cost-minimization, where firms borrowing capacity to smooth temporary
This statistic shows the global medicinal market growth as moderated by rebates from 2009 to 2013, and a projection for 2014 to 2018. From 2009 to 2013, sales growth increased by 194 billion U.S. doll