NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Debt Overhang, Rollover Risk, and Corporate Investment: Evidence from the European Crisis

Sebnem Kalemli-Ozcan, Luc Laeven, David Moreno

NBER Working Paper No. 24555
Issued in April 2018, Revised in November 2018

---- Acknowledgments ----

We are grateful for useful comments from Olivier Blanchard, Laura Blattner, Stijn Claessens, Gita Gopinath, Alberto Martin, Giuseppe Nicoletti, Steven Ongena, Marco Pagano, Thomas Philippon, Alex Popov, Moritz Schularick, and David Thesmar, and from seminar presentations at the ECB, IMF, OECD, World Bank, 21st Dubrovnik Economic Conference, University of Bonn, LBS, Oxford, and University of Zurich. We also thank Di Wang for her excellent research assistance. The views expressed are our own and should not be interpreted to reflect those of the European Central Bank, the Banco Central de Chile, or the National Bureau of Economic Research.

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