question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …

The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions …. Considering such dimensions provides insights into the effect of monetary policy interventions because the credit components are …

heterogeneity and export incentive through credit market imperfection over the life cycle of a firm remains largely unaddressed in … the literature. This paper studies the dynamics of wealth heterogeneity and export incentive of credit rationed firms …

This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for … the economy. Due to liquidity and endogenous default, the transmission mechanism of shocks is well defined, and their …

time along multiple dimensions. This history is primarily consistent with a “demand driven” theory of institutional change …

-shaped profile by age. Third, we show how credit card debt has evolved along the income distribution. Finally, we document a large … amount of heterogeneity in credit card interest rates across consumers. In the second part of the survey, we describe what … has by now become the workhorse model of consumer credit and default. We discuss a quantitative version of the model and …

of increased bank capital in terms of reduced loans could be substantial, there are good reasons to believe that the … between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of … the German economy for the past 60 years. We find no evidence for a negative impact of bank capital on business loans. …