Jiang, Erica; Matvos, Gregor; Piskorski, Tomasz; Seru, Amit - 2022
banks finance themselves primarily with short-term debt and originate long-term loans. However, shadow bank debt is provided … primarily by informed and concentrated lenders. (4) Shadow bank leverage increases substantially with size, and the … shadow banks. Modern shadow bank capital structure choices resemble those of pre-deposit-insurance banks both in the U.S. and …