A variety of empirical and theoretical evidence published in recent years suggests that frictions in credit markets are … of the credit view interpretation of this evidence. Special attention is paid to the role of borrowers' net worth. A …

This paper presents a full model of the Credit Channel of the monetary transmission mechanism. In particular, the …

We investigate how the banking industry concentration and the strength of credit relationships (relationship lending …

Current empirical methods to identify and assess the impact of bank credit supply shocks rely strictly on multi … economy and most prone to credit supply shocks. We propose and underpin an alternative demand control (using industry …-location-size-time fixed effects) that allows identifying timevarying cross-sectional bank credit supply shocks using both single- and multi …

rate, and invests in a risky bond whose market price is correlated with the credit quality of the investor. By viewing the …

. Payday credit is priced per dollar borrowed, so when that option is available, depositors prone to small overdrafts switch … at banks and other depository institutions increases when depositors have access to payday credit. Our findings … illuminate competition and pricing frictions in the large, yet largely unstudied, small-dollar loan market. -- Payday credit …