entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy …, lenders may charge higher interest rates or ration credit supply, which can hamper entrepreneurship. Both aspects of a more …

propose a simple model where firms producing varieties face labor-market frictions and credit constraints. In the model …, tighter credit leads to lower output, lower number of vacancies, and higher directed-search unemployment. Where workers are … more productive at higher levels of firm output, lower credit supply increases firm capital intensity, raises inequality by …

This paper takes advantage of access to detailed matched bank-firm data to investigate whether and how employment … decisions of SMEs have been affected by credit constraints in the wake of the Great Recession. Variability in banks' financial … health following the 2008 crisis is used as an exogenous determinant of firms' access to credit. Findings, relative to the …

-shaped profile by age. Third, we show how credit card debt has evolved along the income distribution. Finally, we document a large … amount of heterogeneity in credit card interest rates across consumers. In the second part of the survey, we describe what … has by now become the workhorse model of consumer credit and default. We discuss a quantitative version of the model and …

lenders. The estimation results imply an increase of 3-4 jobs for each million dollars of loans, suggesting that credit … for the SBA 504 versus 7(a) programs, and with respect to the business cycle, local credit conditions, and within …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

entrepreneurship and credit constraints under labour market discrimination. We divide self employed into prefer to be self-employed and … similar in terms of risk taking preferences and network size. Want-to-be entrepreneurs however suffer from credit constraints … level of credit constraints may be worth 2% of GDP per year direct earnings increases …