shows the impacts of credit rationing and tightening credit conditions, even in the syndicated loans market. We investigate … previously developed relationship with a lead bank obtained a lower spread and a longer maturity during the financial crisis but …

I present a model in which credit and outside money can be used as means of payment in order to analyze how access to … credit affects welfare when credit markets feature limited participation. Allowing more agents to use credit has an ambiguous … credit-card transactions and show that the increase in access to credit from 1990 to the near present has had a slightly …

The aim of our paper is to price credit derivatives written on a single name when this name is a bank. Indeed, due to … the special structure of the balance sheet of a bank and to the interconnections with other institutions of the financial … system, the standard pricing formulas do not apply and their use can imply severe mispricing. The pricing of credit …

different currencies, along with strictly positive conversion costs. A necessary condition for this is that credit market …

imbalances, credit spreads, housing markets, macroeconomic variables, commodities and equities during Q1-1987/Q1-2011. We show …