activities that require the processing of soft information. We explore this idea in the context of bank lending to small firms … financial records. Moreover, controlling for the endogeneity of bank-firm matching, large banks lend at a greater distance …

aggregate loan movements in Japan for the period 1990 to 2010 into bank, firm, industry, and common shocks. The high degree of … separate firm-borrowing shocks from bank-supply shocks using a vast sample of matched bank-firm lending data. We decompose … role for granular shocks as in Gabaix (2011). We show that idiosyncratic granular bank-supply shocks explain 30-40 percent …

paper investigates whether bank ties in Japan were costly for mature and healthy firms in the 1980's and 1990's, and whether … banks continued to facilitate investment once non-bank financing options became available. Using the explicit bond issuing … much larger for main bank client firms, once bond market access is controlled for. This result, coupled with results on the …

In this paper, I show that Japan will not be able to have a viable banking sector without stopping deflation. The …

Large bank holding companies (BHCs) are structured into intricate ownership hierarchies involving hundreds or even …

bank failure rates in Michigan during the period 1932-1934, which includes the important Michigan banking crisis of early … purchases (the policy tool employed after March 1933) on bank failure rates. Our estimates treat the receipt of RFC assistance … assistance that are not directly related to failure risk) for analyzing the effects of RFC assistance on bank survival. We find …

We use an experiment with commercial bank loan officers to test how performance based compensation affects risk …

We draw on stylized facts from the finance literature to build a model where altering the relative costs of bank and … both the largest and smallest firms. In contrast, reducing the frictions involved in bank lending promotes the expansion of …---promoting bond issuance causes exit while cheaper bank credit induces entry. When reducing transactions costs in one market, the …