We use an original monthly dataset of 131 individual euro area banks to examine the effectiveness and transmission mechanism of the Eurosystem's credit support policies since the start of the crisis. First, we show that these policies have indeed been succesful in stimulating the credit flow of...

We investigate the impact of peer-to-peer lending on the small business loans originated by US depository institutions that are subject to the Community Reinvestment Act. We present a model where a borrower can choose between a traditional bank and a crowdlending platform and show that the entry...

This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...

Building on a new data set which is combined from national micro-data bases, we highlight differences in the structure of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all immigrants to the OECD world. Looking at immigrants by source...

The use of height data to measure living standards is now a well-established method in the economic literature. While much is known about 19th century black legal and material conditions, less is known about how 19th century biological conditions were related to the physical environment and...

This paper uses a gravity framework to investigate the effects of distance as well as subnational and national borders in knowledge spillovers. Drawing on the NBER Patent Citations Database, we examine patent citations data at metropolitan level within the U.S. and the 38 largest patent-cited...