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The post-2008 period in the euro area was characterised by sharp dispersion in borrowing costs faced by firms, across both countries and firm types. This dispersion was an important manifestation of the financial fragmentation" which hampered the smooth transmission of accommodative monetary...
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panel dataset of more than 118,000 SMEs across 20 European countries over the period 2005-2008. To our knowledge, this is … support the market power hypothesis, namely, that increased market power results in increased financing constraints for SMEs …
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