A. R. Hopenhayn, Optimal Lending Contracts and Firm Dynamics, Review of economic studies, vol.71, pp.285-315, 2004.

. C. Azariadis and . B. Smith, Financial Intermediation and Regime Switching in Business Cycles, American Economic Review, vol.88, pp.516-536, 1998.

G. B. Bernanke, Agency Costs, Net Worth, and Business Fluctuations, American Economic Review, vol.79, issue.1, pp.14-31, 1989.
DOI : 10.3386/w2015

G. B. Bernanke, Inside the black box: The credit channel of Monetary Policty Transmission, NBER working papers, p.5146, 1995.

. B. Bernanke, . M. Gertler, and S. Gilchrist, The financial accelerator in a quantitative business cycle framework, Handbook of Macroeconomics, pp.1341-1393, 1999.
DOI : 10.3386/w6455

. O. Blanchard, Comments and Discussion on Investment, Output and The cost of Capital, Brookings Paper on Economic Activity, 1986.

. C. Carlstrom and . T. Fuerst, Agency Costs, Net Worth, and Business Fluctuations: A Computable General Equilibrium Analysis, American Economic Review, vol.87, pp.893-910, 1997.

. G. Clementi and . H. Hopenhayn, A theory of Financing Constraints and Firm Dynamics, Quarterly Journal of Economics, vol.121, issue.1, pp.229-265, 2006.

. T. Cooley, . R. Marimon, and . V. Quadrini, Aggregate consequence of limited contract enforceability, 2003.

. R. Chirinko, Business Fixed Investment Spending: Modelling Strategies, Empirical Results, and Policy Implications, Journal of Economic Literature, issue.4, pp.31-1875, 1993.

C. L. Motto and R. M. , Risk Shocks, American Economic Review, vol.104, pp.27-65, 2014.

. J. Cummins and H. K. Hasset, A Reconsideration of Investment Behavior using Tax Reforms as Natural Expermiments, Brookings Paper on Economic Activity, 1994.

. S. Fazzari, . G. Hubbard, and . B. Petersen, Financing Constraints and Corporate Investment, Brookings Papers on Economic Activity, pp.141-195, 1988.
DOI : 10.2307/2534426

. M. Gertler and . S. Gilchrist, Monetary Policy, Business Cycles, and the Behavior of Small Manufacturing Firms, The Quarterly Journal of Economics, vol.109, issue.2, pp.309-340, 1994.
DOI : 10.2307/2118465

M. O. Hart, A Theory of Debt Based on the Inalienability of Human Capital, The Quarterly Journal of Economics, vol.109, issue.4, pp.841-879, 1994.
DOI : 10.2307/2118350

T. B. Holmstrom, Inside and outside liquidity, 2011.
DOI : 10.7551/mitpress/9780262015783.001.0001

. M. Iacoviello, House Prices, Borrowing Constraints, and Monetary Policy in the Business Cycle, American Economic Review, vol.95, issue.3, pp.739-764, 2005.
DOI : 10.1257/0002828054201477

. S. Kaplan and . L. Zingales, Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?, The Quarterly Journal of Economics, vol.112, issue.1, pp.169-215, 1997.
DOI : 10.1162/003355397555163

M. N. Kiyotaki, Credit Cycles, Journal of Political Economy, vol.105, issue.2, pp.211-248, 1997.
DOI : 10.1086/262072

M. N. Kiyotaki, Liquidity, Business Cycles and Monetary Policy: Manuscript of Clarendon Lecture 2, 2001.
DOI : 10.3386/w17934

. N. Kocherlakota, Creating Business Cycles Through Credit Constraints, Federal Reserve Bank of Minneapolis Quarterly Review, vol.24, pp.2-10, 2000.

. S. Kothari and W. J. Lewellen, The Behavior of Aggregate Corporate Investment, SSRN Electronic Journal, p.2015
DOI : 10.2139/ssrn.2511268

. P. Kurlat, Lemons Markets and the Transmission of Aggregate Shocks, American Economic Review, vol.103, issue.4, pp.1463-1489
DOI : 10.1257/aer.103.4.1463

. P. Kurlat and . Econometrica, Asset Markets with Heterogenous Information
DOI : 10.3982/ecta12099
URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.408.3033

. S. Myers and . N. Maljuf, Corporate financing and investment decisions when firms have information that investors do not have, Journal of Financial Economics, vol.13, issue.2, pp.187-208, 1984.
DOI : 10.1016/0304-405X(84)90023-0
URL : http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.334.7154

S. G. Paul, Fiscal Policy and Economic Growth: the Role of Financial Intermediation, Review of International Economics, vol.105, issue.3, pp.612-629, 2005.
DOI : 10.1016/0304-3932(86)90074-7
URL : https://hal.archives-ouvertes.fr/hal-00079000

. A. Shapiro, Investment, Output, and the Cost of Capital, Brookings Papers on Economic Activity, vol.1986, issue.1, 1986.
DOI : 10.2307/2534415

. S. Sharpe, . Suarez, and . Gustavo, The insensitivity of investment to interest rates: Evidence from a survey of CFOs", Finance and Economics Discussion Series Divisions of Research and Statistics and Monetary Affairs Federal Reserve Board

. J. Stiglitz and . A. Weiss, Credit Rationning in Market with Imperfect Information, American Economic Review, vol.71, pp.393-410, 1981.

. J. Tirole, Theory of Corporate Finance, p.20, 2005.
URL : https://hal.archives-ouvertes.fr/hal-00173191