# Professor Viral Acharya's research on banking in Europe is referenced

1 Faculty News October 17, 2016 ![Associated Press logo](/sites/default/files/styles/246w/public/assets/images/con_031530.jpg?itok=uSjLQY9n)>

Excerpt from the [Associated Press](http://www.bigstory.ap.org/article/feac2c8eea9f4014bdbf41aa605bd0bc/zombie-banks-are-stalking-europes-economy) -- "'Creditworthy firms in industries with a prevalence of zombie firms suffered significantly from credit misallocation, which slowed down the economic recovery,' wrote the four economists: [Viral Acharya](http://www.stern.nyu.edu/faculty/bio/viral-acharya) at New York University's Stern School of Business, Tim Eisert from Erasmus University Rotterdam, Christian Eufinger at IESE Business School in Barcelona and Christian Hirsch at the Goethe University in Frankfurt."

[Read more](http://www.bigstory.ap.org/article/feac2c8eea9f4014bdbf41aa605bd0bc/zombie-banks-are-stalking-europes-economy)

Additional coverage appeared on [ABC News](http://abcnews.go.com/International/wireStory/zombie-banks-stalking-europes-economy-42854428), [Fox News](http://www.foxnews.com/world/2016/10/17/zombie-banks-are-stalking-europe-economy.html) and [The New York Times](http://www.nytimes.com/aponline/2016/10/17/world/europe/ap-eu-europe-banking-blues.html?_r=0).