Why Do U.S. Firms Hold So Much More Cash Than They Used To?
NBER Working Paper No. 12534
---- Acknowledgements -----
Respectively, assistant professor and associate professor, Eller College of Business, University of Arizona, and Everett D. Reese Chair of Banking and Monetary Economics, Fisher College, Ohio State University, NBER, and ECGI. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.