Illiquidity in short-term credit markets during the financial crisis might have severely curtailed the supply of non-bank … transaction, we find that the collapse of the asset-backed commercial paper market reduced the financing capacity of such non-bank … depended on non-bank lenders declined sharply. Although other lenders increased their supply of credit, the net aggregate …

Illiquidity in short-term credit markets during the financial crisis might have severely curtailed the supply of non-bank … transaction, we find that the collapse of the asset-backed commercial paper market reduced the financing capacity of such non-bank … depended on non-bank lenders declined sharply. Although other lenders increased their supply of credit, the net aggregate …

Bank branch density, defined as the number of bank branches to total deposits, has significantly declined over the past …