Narrow search
Showing 1 - 10 of 576
Cover Image
Competition and Relationship Lending : Friends or Foes?
Presbitero, Andrea Filippo; Zazzaro, Alberto - 2021
Recent empirical findings by Elsas (2005) and Degryse and Ongena (2007) document a U-shaped effect of market concentration on relationship lending which cannot be easily accommodated by the investment and strategic theories of relationship lending. In this paper, we suggest that this...
Persistent link: https://www.econbiz.de/10013316197
Cover Image
When Arm's Length is Too Far. Relationship Banking Over the Business Cycle
Beck, Thorsten - 2014
Using a novel way to identify relationship and transaction banks, we study how banks' lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms' credit constraints at two...
Persistent link: https://www.econbiz.de/10013050469
Cover Image
How Has the Global Financial Crisis Affected Syndicated Loan Terms in Emerging Markets? Evidence from China
Caporale, Guglielmo Maria - 2015
This paper examines the impact of the recent global financial crisis on the cost of debt capital (syndicated loans) in a leading emerging market, namely China, using difference-in-differences and GARCH approaches. Before the crisis China adopted banking reforms allowing entry of foreign banks...
Persistent link: https://www.econbiz.de/10013021756
Cover Image
Drivers and Obstacles to Banking SMEs : The Role of Competition and the Institutional Framework
de la Torre, Augusto - 2009
foster SME lending and attention has focused on improving the institutional environment, such that the financial system is … more willing to lend to SMEs. In this paper, we directly ask banks (the main providers of SME external finance) what … and retail sectors. They perceive the SME market as highly profitable, large, and with good prospects. Moreover, banks are …
Persistent link: https://www.econbiz.de/10013159698
Cover Image
Leaning Against Windy Bank Lending
Melina, Giovanni - 2015
Using an estimated dynamic stochastic general equilibrium model with banking, this paper first provides evidence that monetary policy reacted to bank loan growth in the US during the Great Moderation. It then shows that the optimized simple interest-rate rule features virtually no response to...
Persistent link: https://www.econbiz.de/10013023182
Cover Image
Self-Fulfilling Credit Cycles
Azariadis, Costas - 2015
In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to secured credit. In this paper we develop a tractable...
Persistent link: https://www.econbiz.de/10013024359
Cover Image
Equilibrium Unemployment With Credit and Labour Market Imperfections
Koskela, Erkki - 2007
We study the role of labour and credit market imperfections in the determination of equilibrium unemployment. In the credit market, loan contracts are negotiated between financiers and firms, both of which have bargaining power, while firms and organized labour bargain over the base wage. The...
Persistent link: https://www.econbiz.de/10012778828
Cover Image
Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2011
This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle dynamics, where firms rely on banks and households for capital financing. Firms are identical ex ante but differ ex post due to different realizations of firm specific technology...
Persistent link: https://www.econbiz.de/10013119521
Cover Image
Investment Shocks, Tax Evasion and the Consumption Puzzle : A DSGE Analysis with Financial Frictions
Chiarini, Bruno - 2016
This paper contributes to the GDP-consumption co-movement puzzle literature investigating the role of tax evasion in explaining the consumption path after a Marginal Efficiency of Investment shock. We use an otherwise standard medium-scale New Keynesian DSGE model combining tax evasion with...
Persistent link: https://www.econbiz.de/10012984510
Cover Image
The Great Mortgaging : Housing Finance, Crises, and Business Cycles
Jordà, Òscar - 2015
This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...
Persistent link: https://www.econbiz.de/10013032225