developing a new methodology to separate firms' credit shocks from loan supply shocks, using a vast sample of matched bank … bank loan supply net of borrower characteristics and general credit conditions -- can have large impacts on aggregate loan …

I study the effects of an increase in the supply of local mortgage credit on local house prices and employment by … affect house prices through the supply of credit and that bank specialization thereby plays an important role in the … allocation of capital across sectors …

Productive firms can access credit markets directly by issuing corporate bonds or by borrowing through financial … intermediaries. In this paper, we study the cyclical properties of corporate credit provision through these two types of debt … instruments in major advanced economies. We argue that the cyclicality of corporate credit is closely related to the cyclicality …

. Payday credit is priced per dollar borrowed, so when that option is available, depositors prone to small overdrafts switch … at banks and other depository institutions increases when depositors have access to payday credit. Our findings …

loan outcomes is scant. Using granular loan-level information from the Italian Credit Register, we build a novel measure of …

We investigate the impact of large swings in the housing market on nonmortgage borrowing, including student, credit … data on consumer liabilities from the Equifax-sourced FRBNY Consumer Credit Panel. The length and timing of our panel allow … 1999-2001, homeowners substituted out of nonhousing (largely credit card) debt and into home equity-based debt at a nearly …

in the availability of credit. Using data from the nationally representative Surveys of Small Business Finances, which … differences in the availability of credit to male- and female-owned firms. More specifically, female-owned firms are significantly … more likely to be credit constrained because they are more likely to be discouraged from applying for credit and more …