How does uncertainty affect the costs of raising finance in the bond market and via bank loans? Empirically, this paper … finds that heightened uncertainty is accompanied by an increase in corporate bond yields and a decrease in bank lending …

bias in corporate taxation. It is well known that this reform reduces bank leverage. This paper analyzes a novel …

bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By …

use the model to look at monetary policy and show that allowing banks to sell long-term assets to the central bank after a …

. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank …, small, and innovative firms) have a multitude of bank lenders, where one may be special in the sense of relationship lending … financing. To fill this gap, we analyze the optimal debt structure in a model that allows for multiple but asymmetric bank …