We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We …-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …), we find that increases in Italian banks' CDS spreads and decreases in their equity valuations lead younger and smaller …

We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We …-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank(s …), we find that increases in Italian banks' CDS spreads and decreases in their equity valuations lead younger and smaller …

during the 2000s. We present a model in which banks use applicants' incomes, combined with local income inequality, to infer … the underlying type of the applicant, so that banks ultimately channel more credit toward lower-income applicants in low …

during the 2000s. We present a model in which banks use applicants' incomes, combined with local income inequality, to infer … the underlying type of the applicant, so that banks ultimately channel more credit toward lower-income applicants in low …

We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods …