It has been observed that the economic growth cycle coincides with the investment cycle in India. It turns out that firm-level leverage could provide early signals about movements in the investment cycle. Moreover, a company’s leverage negatively affects its investment activity above a threshold. The regression results, after controlling forRead More →

Democrats in Congress are now poised to enact two huge non-defense spending expansions, though serious challenges remain. The first is a $1.2 a $1 trillion package of infrastructure spending, including funding for roads, bridges, railways, rural broadband and water systems, which enjoys bipartisan support. The other is a so-called fiscalRead More →