A Theory of Banks, Bonds, and the Distribution of Firm Size

Katheryn N. Russ, Diego Valderrama

NBER Working Paper No. 15454
Issued in October 2009

---- Acknowledgements -----

The authors thank Paul Bergin, Galina Hale, Bart Hobijn, Mark Spiegel and Robert Vigfusson for helpful suggestions, as well as seminar participants at the Asia-Pacific Economics Association 2009 Summer Meetings, the Federal Reserve Bank of San Francisco, the Federal Reserve Board of Governors, and the International Monetary Fund. They are especially grateful to Martin Bodenstein for a detailed discussion. Hirotaka Miura and Nina Ozdemir provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of San Francisco, the Federal Reserve System, or the National Bureau of Economic Research.

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