banks impacted by the real estate prices collapse systematically contracted their credit to all small firms throughout the U ….S.. However, healthy banks expanded their operations and entered new banking markets. The market share gain of these banks was a …. Despite this offsetting expansion, the net effect of the contraction in credit was negative, with lower aggregate credit and …

Standard economic theory says that unsecured, high-interest, short-term debt — such as borrowing via credit cards and … bank overdraft facilities — helps individuals smooth consumption in the event of transitory income shocks. This paper shows … income shock of unemployment. Instead, individuals smooth their credit card debt and overdrafts by adjusting consumption. We …

monetary policy. The theory unifies an endogenous supply of illiquid local loans and risk-sharing among subsidiaries of bank …

This paper analyzes the determinants of spreads on syndicated bank lending to emerging markets, treating the loan … banks in providing credit to smaller borrowers about whom information is least complete and, more generally, support the … interpretation of bank finance as dominating that segment of international financial markets characterized by the most pronounced …

Using data from SEC filings, I show that the typical bank loan is renegotiated five times, or every nine months. The … the financial health of the contracting parties and uncertainty regarding the borrowers' credit quality. The relative …

2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had … a high market share, the aggregate flow of small business credit fell, interest rates rose, fewer businesses expanded …, unemployment rose, and wages fell from 2006 to 2010. While the flow of credit recovered after 2010 as other lenders slowly filled …

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

competitive interactions between banks and non-bank lenders (fintech firms). Trust enables lenders to have assured access to …