We examine how the cost of corporate credit varies around fiscal consolidations aimed at reducing government debt … price the short-term recessionary effects in loans but large consolidations can reduce or undo the increase in spreads …

the GSEs. We find that judicial requirements reduce the supply of credit only for jumbo loans that are ineligible for GSE … guarantees. These laws do not affect, however, the relative demand of jumbo loans. Our findings, which also hold using novel … nonbinary measures of judicial requirements, illustrate the consequences of foreclosure laws on the supply of mortgage credit …

-borrower countrydata and controlling for credit demand, we show that reductions largely varied in line with markets’ prior assessments of … direct cross-border loans differ from those for local affiliates’ lending, especially for impaired banking systems. Home …

syndicated and non-syndicated loans. We show that on-balance sheet syndicated loan exposures account for almost one third of … financial crisis due to large drawdowns on credit lines extended before the crisis. Our empirical analysis of the drivers of … favor syndicated over other kinds of cross-border loans. Second, borrower country characteristics such as level of …