habit persistence in consumption behaviour. -- bank credit ; financial intermediation ; firm heterogeneity and defaults …

years after the start of the crisis. We rely on a unique matched bank-employer-employee administrative dataset to construct …

have less equity capital. Bank capitalization also proxies for the extent to which the regional banks' borrowers can obtain …

that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings. …

's domestic bank by an internationalized banking group. Our results show that, after the acquisition, firms have a significantly … higher probability of starting export in countries where the consolidated bank has a foreign branch, which proxies for the … mainly reduce firms' fixed entry costs in a foreign market. The analysis also shows that other channels, such as bank credit …