The BdF found that credit losses were highest when policy was delayed and there was a sudden transition.
BdF发现,当政策推迟和突然转变时,信贷损失最高。
经济学人(汇总)
Most of the tests used an accelerated time frame-five years in the DNB and BdF cases-in effect assuming that firms are stuck with the balance-sheets they have today.