bank and a crowdlending platform and show that the entry of crowdlending can induce a switching effect as well as a credit …

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 …

bank credit reallocation with endogenous firm entry and exit that allows for both theoretical and quantitative analysis. By … also redirect existing credit to more productive entrants. This reduces banks’ dependence on household deposits that are …

estimation of the underlying behavioral parameters; and confirms the central predictions of the theory, while pointing out … challenges for further developments that existing theory is unable to account for …

in the credit market of the costs firms face in searching information and switching lenders. …

administrative credit panel data, we show that the payment pause led to a sharp drop in student loan payments and delinquencies for … borrowers subject to the debt moratorium, as well as an increase in credit scores. We find a large stimulus effect, as borrowers … to increase borrowing on credit cards, mortgages, and auto loans rather than avoid delinquencies. The effects are …